Geithner’s Push Opposed by APEC U.S. Treasury Secretary Timothy Geithner’s efforts to cajole countries to rein in their current account imbalances ran into opposition as Asian countries complained that U.S. monetary policy is flooding their economies with too much cash.
China’s Hu named most powerful person Forbes magazine has named President Hu Jintao as the world’s most powerful person, a move that analysts say shows global acknowledgement of China’s contribution to the world’s economic recovery.
IMF elevates China to No 3 on Board In a historic decision, the International Monetary Fund board on Friday boosted voting power of big emerging economies and made China the third leading voice of the global lender.
US retailers bring sales offers forward Holiday sales starting before traditional ‘Black Friday’
In terms of the Fed, we may well have seen the last of the quantitative easings.
Why? Because starting in 2011, there will be three new voting Federal Reserve
Bank presidents who vocally oppose any more easing initiatives. Charles
Plosser of the Philly Fed and Richard Fisher of the Dallas Fed oppose QE and
Narayana Kocherlakota of the Minneapolis Fed is sceptical it will work. They
replace the three “doves” in the form of Rosengren from Boston, Pianalto from
Cleveland and Bullard from St. Louis. (D. Rosenberg)