How the world sees Greece
With earnings reporting season winding down and a temporary Greek debt deal hammered out, stock market attention turns this week to a full slate of economic data and Federal Reserve chief Janet Yellen’s trek to Capitol Hill, where she’ll be peppered with lawmakers’ questions on the economy. Stocks traded narrowly for [...]
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Now that we're seeing at least the outline sketch of how Greece is going to solve its economic problems it's perhaps worth taking a look back at what the real and basic problem. And also, as the old Punch joke about getting to Dublin has it, if we were trying [...]
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by Associated Press Higher rates coming? Yellen faces lawmakers at pivotal time by MARTIN CRUTSINGER, Associated Press - 23 February 2015 12:02-05:00 WASHINGTON (AP) — After years of sounding reassuring notes about the need to keep interest rates at record lows, the Federal Reserve is finding the shift to an era of pending rate hikes a tricky and complicated one. But anyone who expects Fed Chair Janet Yellen to clarify the timetable for a rate hike when she speaks to Congress this week could be disappointed. Yellen seems likely to take a wait-and-see stance that echoes a message the Fed has sent of late: That while employment and other economic gauges have brightened, the Fed remains concerned about excessively low inflation, lingering weaknesses in the job market and troubles overseas. Yellen's testimony Tuesday to a Senate committee and Wednesday to a House committee — her semiannual report to Congress on the economy and interest rates — could produce a battle of wills: Lawmakers will likely push for clarity, and Yellen may counter by citing the hazy economic landscape the Fed is navigating. Beyond rates, Yellen could face questions about legislation to expand Congress' oversight of the Fed. The measure has support among conservative Republicans but is opposed by Fed officials who say it would compromise the central bank's independence. Many analysts think Yellen's testimony will hew closely to the minutes of the Fed's most recent meeting. The minutes depicted policymakers as struggling to assess when the economy might strengthen enough for them to raise rates and how best to signal their intentions. The Fed risks triggering financial turbulence as it shifts from a period of ultra-low rates to one in which it must choose how soon, how fast and how long to raise rates to avoid future high inflation. Higher Fed rates will, in turn, affect rates on many consumer and business loans and could depress stock and bond prices. Its most recent policy statement expressed the Fed's intention to be "patient" about raising rates. Many economists have predicted it will raise rates in June. But the minutes of the most recent meeting showed that some Fed officials feared that removing "patient" from their policy statement could spur investors to raise long-term rates to "undesirably tight" levels. Yellen will likely note progress in reducing unemployment while repeating her dissatisfaction with tepid pay increases, a shortage of full-time jobs and inflation persistently below the Fed's 2 percent target. She may also stress the many uncertainties the Fed must assess, including a harsh winter in some parts of the country that could slow home building. There's also concern about weaker growth in U.S. export markets, such as China and Europe, and whether a preliminary deal giving Greece more time to repay debts will hold. While various Fed officials have discussed a potential June start for rate increases, many analysts say that target may now be slipping, especially given that inflation has slowed further, reflecting cheaper energy and a rising dollar. "The Fed wants to see the temperatures thaw and more certainty in other areas before they move rates," said Diane Swonk, chief economist at Mesirow Financial in Chicago, who thinks the Fed will raise rates by September. But Ellen Zentner, senior U.S. economist at Morgan Stanley, said the uncertainty expressed in the minutes suggests that the Fed may wait until next year. "This is a (Fed) committee that wants to be cautious," Zentner said. News Topics: Business, General news, Central bank interest rates, Monetary policy, Inflation, Economy, Legislature, Employment figures, Government and politics, Economic policy, Government business and finance, Government policy, Prices, Labor economy, Leading economic indicators People, Places and Companies: Janet Yellen, United States, North America Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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He prompts the Greek PM to ‘’ immediately do away with all the Memorandum derived measures, thus restoring our National Sovereignty’’
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… the conditional financial rescue for Greece hammered out at the end … late Friday eased concerns that Greece would leave the euro, even … lingering doubts over whether the Greek accord will lead to a …
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“Though it's happening to a stricken country, on the edge of Europe, the choices presented to Greece are being understood throughout Europe…
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EmergingMarkets2.jpg Home Page News Page EM FX Vulnerabilities Still Exist With some of the big near-term uncertainties gradually being cleared up (Greece and Ukraine), we think EM assets could get some traction this week. That said, EM FX will remain vulnerable and liable to selloffs should the dollar bullish-trend resume in earnest. The outlook for the FED will be the focal point now, and Yellen’s testimony this week could be decisive. We think the needle will move back towards a June hike. This may be a negative development for EM given that some investors are pricing in a later hike. With some of the big near-term uncertainties gradually being cleared up (Greece and Ukraine), we think EM assets could get some traction this week. That said, EM FX will remain vulnerable and liable to selloffs should the dollar bullish-trend resume in earnest. See Also links url: http://www.economywatch.com/features/A-Preview-of-this-Weeks-Events-Among-the-Emerging-Markets.02-16-15.html Title: A Preview of this Week's Events Among the Emerging Markets See Also type: Reference Featured Report That You Might Like: Compete Inc. CCID Consulting Company Limited read more
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