The Chairman of the Federal Reserve provides some reassurances to the markets in his statement to both houses of Congress this week. Points of note: Fed expects 3.5-4.5% GDP growth in 2011 and 2012, 7-7.5% unemployment by the end of 2012, and an initial rebalancing of the Fed’s Treasury and Agency Read more…
The Chairman of the Federal Reserve provides some reassurances to the markets in his statement to both houses of Congress this week. Points of note: Fed expects 3.5-4.5% GDP growth in 2011 and 2012, 7-7.5% unemployment by the end of 2012, and an initial rebalancing of the Fed’s Treasury and Agency Read more…
The full letter to the Senate Banking Committee (WSJ), where the Fed Chairman touches on the reasons for not spinning off swap books from banks, echoing sentiments from Sheila Bair at the FDIC. Major downfalls of a spin-off: reduced regulation, reduced liquidity available in stressful times, and reduced competition with Read more…