Monthly Archives: April 2010

Fed Talks, But Will They Listen?

By Andrew Busch | Published: April 7, 2010

Today is Fed appreciation day with three speakers including the big guy, Ben Bernanke, are having a go at explaining their outlook for monetary policy. To be honest, I’m more interested in what Hoenig has to say especially since he continues to dissent. During the Greenspan era, the lack of dissent was detrimental to the policy making by the central bank. The recent interview by former Fed chairman Alan Greenspan is instructive when you only think with one mind: Referring to the housing bubble, “Everybody missed it,” he said, “academia, the Federal Reserve, all regulators.”

Given the success of Michael … …READ MORE

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We Want It, We Want It, We Want It…….It Costs How Much?

By Andrew Busch | Published: April 6, 2010

Today, the Euro came under pressure with after a series of stories have emerged over the last 24 hours on the details for a Greek bailout. Denial, delusion, and unstable come to mind for the situation as the markets have already voted with their feet by sending the Euro down 150 pts and sending Greek bonds yield up 27 basis points to 6.83%.

Pointing fingers elsewhere, Greece’s Deputy Prime Minister Theodoros Pangalos stated that their type of debt problems are likely to spread further in the Euro Zone and that Portugal could be next in line for attack. Remember, this … …READ MORE

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Clash of the Trade Titans a Disappointing Sequel

By Andrew Busch | Published: April 5, 2010

As most know by now, the US Treasury Department has put off releasing their bi-annual currency manipulation report. As you may remember from the Bush administration, this behavior is nothing new.

First, a bit of background. With the help of the IMF, the Treasury is instructed to analyze and report by mid-April on who is unfairly manipulating their currency. The term manipulation is narrowly defined as “for purposes of preventing effective balance of payments adjustments or gaining unfair competitive advantage in international trade.”

When I was acting as an outside advisor to both US Treasury Secretary John Snow and Hank … …READ MORE

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