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发表于 2010-10-21 08:42 AM
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Something I read regarding QE and Beige book:
Our regular review of the Federal Reserve’s Beige Book, out yesterday afternoon, finds little in the report that signals the need for something as dramatic as a new round of Quantitative Easing. According to the summary, national economic activity continued to expand at a modest pace over the past six weeks. The most negative piece of commentary related to the labor market, where conditions remained soft with limited permanent hiring. Inflation continues to be subdued, as rising input costs were not passed along to final goods and services. Many local housing markets appeared to weaken further, with sales below year-ago levels in most regions, though there were some reports of price stabilization. The reference to economic improvement seems to stem mostly from an expansion in manufacturing activity, which was boosted by both production and new orders. Reading through the Beige Book, you would not know that the Fed has widely telegraphed its intention to inject another $500 billion or so of fresh liquidity into the financial system, which strikes us as odd (to say the least). The last two reports have portrayed a slowing economy, but this one seems to paint a more stable picture than previous installments. We’ll just have to wait for November 3rd to see where the Fed comes down on more stimulus; this Beige Book isn’t pointing the way decisively in either direction. _____________________________________________________________________________________________ |
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狗仔卡
发表于 2010-10-21 08:21 AM
