FEDERAL RESERVE

A hint of QE3 could usher in a very explosive global equity rally.

It goes without saying that a civilization and society as complex as the United States would have its share of myths and misnomers, so let's take a moment to dispel a few.

Presidential hopeful Rick Perry's brash appeal to the Republican Party's fiscally conservative base may fall flat with big donors who favor a more moderate candidate to challenge President Barack Obama in the 2012 election.

From dawn in Tokyo to dusk in New York on Friday, fear lifted gold to a record high -- its fifth such day in a row -- and boosted silver, too, as the world's investors succumbed to the accumulated effect of one emerging danger after another.

Gold rose 1.5 percent on Friday, setting a record high for a second straight day and heading for its biggest one-week gain in 2-1/2 years on worries about stalled U.S. growth and Europe's debt crisis.

The economy is growing so slowly that it will take years to wrench lofty unemployment rates back to normal levels, Cleveland Federal Reserve Bank President Sandra Pianalto said on Friday.

It goes without saying that a civilization and society as complex as the United States would have its share of myths and misnomers, so let's take a moment to dispel a few.

The U.S. Federal Reserve is keeping an eye on European banks struggling with the continent's debt crisis because of the turbulence in financial markets, one of the central bank's most influential policymakers said on Friday.

If Gov. Rick Perry, R-Texas and candidate for the 2012 Republican presidential nomination, is trying to show that he's qualified to lead an enlightened, diverse, complex society amid a period of economic, social, and technological change, he's doing an awful bad impression.

Gold charged to a record high early Friday in electronic trading as a host of bad economic news from around the world drove investors away from stocks for the safety of the yellow metal.

For presidential hopefuls in a campaign that is all about the U.S. economy, the Republican contenders have offered few clear plans for what they would do to get the country's finances back on track.

China will skip next week's annual conference of central bankers in Jackson Hole, Wyoming, two sources familiar with the situation told Reuters on Friday.

U.S. Treasuries rose in Asia on Friday, supported by weakness in global equities and concerns about the U.S. economy's outlook, but profit-taking helped temper gains as the 30-year yield dipped near a 2- year low hit the previous day.

Fears of U.S. slowdown dampen demand expectations.

European stocks are slated for another fall on Friday after Asian stocks slumped on growing fears the U.S. economy was sliding into recession and as some European lenders faced short-term funding strains, raising fears of a systemic banking crisis on the continent.

Asian stocks extended losses Friday, with South Korea's benchmark shedding 5 percent on growing fears the U.S. economy was sliding into recession and as some European lenders faced short-term funding strains, raising fears of a systemic banking crisis on the continent.

Asian stocks tumbled as much as 4 percent on Friday on growing fears that the U.S. economy was sliding into recession and as some European lenders faced short-term funding strains, raising fears of a systemic banking crisis on the continent.

White House hopeful Rick Perry has at least some supporters in the Democratic stronghold of Chicago -- President Barack Obama's re-election team.

Mid- and small-capitalization stocks sank for a third straight day on Thursday in a wide selloff on continued fears about the global economy's growth prospects.

We must not lose sight that Treasury yields have been artificially lowered by the massive buying program of the Federal Reserve associated with QE2.

Gold rallied 2 percent to new high above $1,820 an ounce on Thursday, after U.S. economic data pointed to a stalled economy, while renewed concern about the health of European banks brought safe-haven buying.