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In light of the changes in the System Open Market Account (SOMA) portfolio over the past two years, the Committee again discussed its strategy for the eventual normalization of the stance of monetary policy and the size and composition of the Federal

The Federal Reserve will not be in a hurry to raise short-term interest rates, even after the unemployment rate falls to the central bank’s threshold of 6.5%, Fed Chairman Ben Bernanke said Wednesday. “There will not be an automatic increase in

We now have data to update all four charts that I'm using to track when the Fed will start tapering the QE3 purchases. At the June FOMC press conference, Fed Chairman Ben Bernanke said: "If the incoming data are broadly consistent with this forecast

The European Central Bank's vow last week to keep record-low interest rates "at present or lower levels for an extended period" is a big philosophical shift for a bank that used to insist it would not tie its hands. On the face of it an unprecedented

The big show this week will be a speech on Wednesday from Fed Chair Ben Bernanke. It's titled: "The First 100 Years of the Federal Reserve: The Policy Record, Lessons Learned, and Prospects for the Future” and there's going to be a Q&A. So he could

Strategists at Deutsche Bank said much of gold's correction may have already happened, in a note on Monday. Gold has come down over 30% from a peak of around $1,900 an ounce in September 2011. "Lessons from history suggest that although gold-price

When it comes to Muppet-bating, there is still only one; and "The Highlander" of all strategists is none other than Goldman's David Kostin. His somewhat-exuberant year-end target for the S&P 500 at 1,750 pales in comparison to his wonderfully

Confused what the (non) news of today's "unprecedented" forward guidance announcement by the ECB means? Shocked that the ECB is about as dovish as it has ever been, after having missed the following chart showing the record low European bank lending

U.S. job growth probably slowed in June, but not enough to shift the Federal Reserve away from expectations that it will start scaling back its massive monetary stimulus later this year. Employers are expected to have added 165,000 new jobs to their

German factory orders unexpectedly declined for a second month in May, signaling an uncertain recovery in Europe’s largest economy as the euro area struggles to emerge from its longest-ever recession. Orders (GRIORTMM), adjusted for seasonal swings

Employment increased more than forecast in June, wages picked up and the U.S. jobless rate held close to a four-year low as the world’s largest economy weathered the effect of higher taxes and federal budget cuts. Payrolls rose by 195,000 workers for

Growth is happening in the wrong places The market’s upbeat reaction to Friday’s tiny improvement in unemployment suggests that this is an economy on the mend. The reality is far less sunny. In fact, low-paying jobs that are being created will keep

Is the global economic downturn going to accelerate as we roll into the second half of this year? There is turmoil in the Middle East, we are seeing things happen in the bond markets that we have not seen happen in more than 30 years, and much of

It's clear who the big losers were today: It's the crowd that says "good news is bad news and bad news is good news" for the market. They argue that good economic news is bad, because good news accelerates the day the Fed tightens, and therefore

The price of gold peaked at just over $1,900 per ounce in the fall of 2011. And it was right around that time that commodities guru Jim Rogers began warning investors that the yellow metal could hit a low of $1,200 before the sell-off was over. He

The reasons for continuing to participate in stock markets are discussed in this video from Gordon T. Long and John Rubino. It all comes down to liquidity (and little else). The liquidity fraud is well advanced and likely will continue. This

Sometimes, such as after pervasive liquidations in precious metals (or is that AAPL? Has it become clear yet that with widespread "quality" collateral shortages, gold and AAPL stock have become unexpected and almost interchangeable collateral

Trying to find a job in America today can be an incredibly frustrating experience. Most of the jobs that are available seem to pay very little, and there is intense competition for just about any job that is open. But it wasn't always like this. When

Two top managers of the scandal-plagued Vatican bank resigned on Monday following the arrest of a high-ranking cleric with close ties to the financial institution, in the latest of a string of embarrassments for the Holy See. Director Paolo Cipriani

This week begins the third quarter. And there are tons of crucial economic events scheduled. But in the wake of all of this talk about the Federal Reserve reducing its stimulative bond-buying program (i.e. tapering QE), the biggest report without