US Federal Reserve chairman, Ben Bernanke, has indicated a change of tack for the Fed ahead of its now vital December 11 meeting, writes Glenn Dyer.
Donald kohn
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
US deterioration takes Fed by surprise
Without advance warning or tips to friendly media, the second most senior man in the US Fed, Vice chairman Donald Kohn, has confessed that he and the Fed had not anticipated “the degree of deterioration that has happened over the last couple of weeks” in financial markets. Glenn Dyer reports.
The Economy: Market turmoil, interest rates and Aussie politics
Ben Benanke is widely expected to cut the US cash rate by 50 basis points, perhaps shortly and out of season, RBA Chief Glenn Stevens is sitting tight, China’s central bank has raised interest rates again. (China’s actions to curb inflation are certain to be too little, too late, but at least they are trying.)
