Oil Falls to Under $40 in New York
With today’s confirmation that the U.S. economy is still shedding jobs, oil fell below $40 for the first time in 2009. While oil rebounded somewhat since the low of $32.40 last month, analysts predict that oil prices will continue to retreat. More
Cable Closes the Week on a High Note
The British pound completed its best week ever against the euro, gaining over 8 percent for the week. More
Fed Loan Programs “Fraught With Risks”: Lacker
Richmond Federal Reserve Bank President Jeffrey Lacker warned that the central bank should avoid using its balance sheet to finance a fiscal stimulus plan, saying such a strategy is Ã¢â‚¬Å“fraught with risks.Ã¢â‚¬Â
Ã¢â‚¬Å“Many historical instances of monetary instability have been the result of central banks being prevailed upon to use their balance sheets for fiscal ends,Ã¢â‚¬Â Lacker said in a speech to the Maryland Bankers Association in Baltimore. Ã¢â‚¬Å“Mixing monetary and fiscal policy is fraught with risks.Ã¢â‚¬Â More
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