• How Washington Subsidizes Home-Buying For The 1%: Report

    Government-owned Fannie Mae and Freddie Mac, which were set up to help blue-collar and middle-class workers buy their own homes at lower interest rates, are also helping the nation's one percent to purchase luxurious homes.
  • World Drunk with Cash

    Markets around the world over react to The Fed stimulus plans ignoring slowing growth, high unemployment and the possible inflationary effects of a new round of free money. The U.S. budget deficit rose $191-B in August to $1.164-T.
  • Brent crude rises towards $117 on Fed stimulus action

    Brent crude rose for the seventh straight session on Friday, climbing towards $117 a barrel on hopes for stronger global demand for oil after the U.S. Federal Reserve launched an aggressive program to stimulate the economy. Brent crude for November delivery, which took over as the front-month contract on Friday, climbed more than $1 to $116.92 a barrel by 0627 GMT, after rising 94 cents in the previous session. Brent, which hit a four-month peak of $117.48 on Thursday, is on track to end the wee...
  • Asian Shares Hit 4-Month High, Dollar Weak On Fed Action

    Asian shares rose to a four-month high Friday while the dollar remained weak against other major currencies after the U.S. Federal Reserve announced an aggressive new stimulus to drive job creation in the U.S. economy.
  • Obama Widens Lead to 7 Points: Reuters/Ipsos Poll

    President Barack Obama widened his lead over Republican challenger Mitt Romney to 7 percentage points in a Reuters/Ipsos poll of likely voters released Thursday, the latest survey to show him ahead.
  • South African Activist Elder Epainette Mbeki Scolds ANC

    Epainette Mbeki, mother of former South African President Thabo Mbeki and revered anti-Apartheid activist, recently criticized the country's ruling African National Congress which had pressured her son to resign in 2007. The ANC continues to have wide support in South Africa, but Mbeki stressed that its leaders needed to communicate better with the people or public unrest would increase amid the country's persistent economic disparities.
  • Asia Gold, Silver and Crude Oil Prices

    The Gold and Silver markets rallied hard Thursday midday just after of the FOMC announcement that the Federal Reserve has embarked upon more easing of US monetary policy; the Big Stimulus extends.
  • Bernanke

    Fed Recap: Chairman Bernanke Defends QE3, Pre-Empts Political Criticism

    Fed Chairman Ben Bernanke offered a spirited defense Thursday of the bank's decision to launch QE3, as the central bank's third round of quantitative easing is known, amid speculation that the initiative may have been politically motivated as the presidential election nears.
  • Gold Retreats In Line With Euro, Stocks

    Gold Prices Shoot Higher On Fed Decision To Take On More Debt

    Fed decision to buy tens of billions more in bonds lifts the price of gold to a six-month high.
  • Daily Summary on USD, EUR, GBP, JPY, AUD, CAD and MXN

    The USD consolidated in its new lower ranges this morning ahead of today's heavily anticipated Fed announcement. Policymakers are still squarely focused on the lagging jobs market and hope that further central bank asset purchases will provide a much-needed boost in lending at both the corporate and consumer level. However, the potency of a third round of so-called quantitative easing would likely be significantly muted with bond yields already near all-time lows. What QE3 will do is foster i...
  • US Federal Reserve

    US Economy To Grow 2% Or Less This Year: Fed

    The U.S. central bank lowered its forecast for economic growth this year, but it reiterated its expectations for unemployment. Further, the bank said it now expects the Fed's first interest rate hike to take place in 2015.
  • Fundamental Update: Initial thoughts on the FOMC decision

    Financial markets can't seem to decide if this evening's Fed announcement is good or bad news for financial markets. Here is what the Fed has decided to do: 1, QE3: this will entail purchases of $40 billion of mortgage-backed securities each month - these purchases are unlimited and will depend on future labour market data. 2, The pledge to keep interest rates at 0-0.25% has been extended to 2015. 3, There will be more Operation Twist, focusing on extending the banks' ownership of long-...
  • US Fed to Print New Dollars, Buy Mortgages

    The US Federal Reserve launched another aggressive stimulus program Thursday, saying it will buy $40-B of mortgage debt per month and continue to purchase assets until the outlook for jobs improves substantially.
  • Yemen

    Yemen: Anti-Islam Film Is The Least Of This Poverty-Stricken Nation's Many Problems

    Anger in the Muslim and Arab world over an anti-Islam film produced in America has spread to Yemen, where several hundred protesters stormed the U.S. Embassy in the capital, Sana. Yemen is already dealing with widespread social problems due to food and water shortages, rising extremism and sectarian conflict and political instability following the popular uprising that began in 2011.
  • US Federal Reserve

    US Federal Reserve Sept. 13 Meeting Statement [Full Text]

    In the statement, the Federal Reserve announced Thursday it will buy $40 billion per month of mortgage-backed securities, the start of the so-called third round of quantitative easing, QE3. The Fed also said it will continue 'Operation Twist,' bringing total securities purchased per month to $85 billion.
  • jobless claims

    US Initial Jobless Claims Rise To 382,000 - Higher Than Expected

    The four-week average of initial U.S. jobless claims rose last week to its highest level in nearly two months, yet another indication of the nation's anemic job creation ability.
  • London Session: Is it the Bernanke put or the Bernanke call these days?

    Today is all about Bernanke and the FOMC meeting that concludes later today. The main questions the markets want answered is 1, will we get more QE this month, 2, what form will it take, and 3, what size will it be? The markets seem to have made up their mind on the first question the Fed will act because of the unambiguously bad payrolls data in August and also after Bernanke’s defence of conventional QE at the Jackson Hole conference last month. We tend to agree that if the Fed doesn’t announ...
  • Corsica: Violence In Paradise

    The island, officially French but in fact very much its own place, is among the most beautiful in the Mediterranean, but it still suffers from endemic violence by nationalists and mobsters. What's wrong with Corsica, then?
  • Traders work on the floor of the New York Stock Exchange

    US Stock Futures Signal Lower Open Ahead Of Fed Decision

    The U.S. stock index futures point to a lower open Thursday as investors maintained a cautious mode ahead of the Federal Reserve meeting in which there is the likelihood of another round of quantitative easing measures to be announced to invigorate the economy.
  • Barack Obama

    Obama Earns ‘F’ On Issue Most Important To Voters

    Voters continually claim that one issue is most important to them this election. It’s an area where President Barack Obama fails miserably and, for that reason, is trying desperately to avoid it -- the economy.