Tag Archives: Geithner

Gang of 6 Disappoints

By Andrew Busch | Published: May 4, 2011

I realize this may shock you, but a bipartisan effort to reach a deal to control the national debt has stalled. A group of 6 members of Congress were working on a plan to take the best parts of the Ryan and Obama deficit reduction plans and meld them into a compromised deal that everyone would hate, but all would agree to sign. This week, Tsy Sec. Geithner moved the time from mid-May to August 2nd for when the US will hit its debt ceiling.

The elongated period will allow additional time to negotiate a deal and perhaps make the … …READ MORE

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3 U Nd 2 Knw Now

By Andrew Busch | Published: February 7, 2011

3 U Nd 2 Knw

1. Bank of England. On Thursday, the UK central bank meets to decide on interest rates amidst a rising inflationary environment. Currently, the BOE is holding their asset purchases at 200 billion GBP and their overnight interest rates at 0.5%. The Monetary Policy Committee will struggle to decide if they need to raise interest rates when inflation is about double their 2% target and UK growth might be negatively impacted by government cuts in spending. On January 13th, two members of the committee voted to raise interest rates as they were concerned that inflation would … …READ MORE

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The Eyes of Congress Are Upon You

By Andrew Busch | Published: February 24, 2010

Here’s What the Markets Are Going to Focus on Today:

House Budget
FISCAL 2011 BUDGET: TREASURY DEPARTMENT
10 a.m. Feb. 24, 210 Cannon Bldg.
Full Committee Hearing
House Budget Committee (Chairman Spratt, D-S.C.) will hold a hearing on the president’s proposed fiscal 2011 budget for the Treasury Department.
Witnesses Scheduled: Timothy F. Geithner, secretary of the Treasury

House Financial Services
HUMPHREY-HAWKINS MONETARY POLICY REPORT
10 a.m. Feb. 24, 2128 Rayburn Bldg.
House Financial Services Committee (Chairman Frank, D-Mass.) will hold a hearing on the Humphrey-Hawkins Semiannual Monetary Policy Report, current economic conditions, and the outlook for the financial sector and … …READ MORE

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Geithner Quiz!

By Andrew Busch | Published: February 23, 2010

According to Vogue Magazine, whom does our current US Treasury Secretary most closely resemble?

a. Lyle Lovett

b. The current Bachelor

c. Frodo

d. JFK

e. Aragorn

f. a & d

g. c & e

Answer below…..

Vogueing: The answer today’s quiz is f. In this story, Vogue states that Geithner is, “A lithe and athletic 48 years old, Geithner, who was named one of the 100 most beautiful people of 2009 by People magazine (it may have helped that his brother works for the publication), has the kind of looks that can go either way: Half an inch one … …READ MORE

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Gomer Pyle AIG Outlook

By Andrew Busch | Published: January 27, 2010

Today, we have the financial odd couple of current US Treasury Secretary Tim Geithner and former US Treasury Secretary Hank Paulson testifying in front of Congress on the AIG bailout. At 10:00 am, they will testify before the House Committee on Oversight and Government Reform and discuss in detail the steps the government took to rescue AIG and how the consequences of AIG failing at that time, in those circumstances, would have been catastrophic for our economy and for American families and businesses” according to the US Treasury.

The FT says that Republicans on the House oversight committee are accusing … …READ MORE

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The Obama Redirect To Uncertainty

By Andrew Busch | Published: January 22, 2010

After a stunning loss in the Massachusetts Senate race and loss of the critical 60-40 split in the US Senate, President Barack Obama did not wait long to change tactics and go on the offensive. Yesterday’s bank plan announcement is a fascinating turn in the political discussion. While the details are still a bit sketchy, the rhetoric is not. The speech had a direct negative impact on the equity markets as the S&P 500 dropped 1.89% and the financial sector dropped 2.93%.

While I (and others) believe the agenda of the White House will be pulled more mainstream due to … …READ MORE

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China Trade War Coming

By Andrew Busch | Published: November 13, 2009

New Zealand PM English says US dollar likely to decline further, says he discussed US dollar with US Tsy Sec Geithner, says Asian countries should not be worried about FX appreciation, but says he’s concerned about the strength of his own currency and it’s impact on NZ exports.

Thailand Finance Minister Chatikavanij says they have bought $15 bln in 2009 to slow US dollar descent, says China stressed APEC need to ensure no rise in protectionism, says no indication from China if or when a yuan revaluation will take place, and says weak yuan forces Asian central banks to curb … …READ MORE

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Obama Focus on Far East

By Andrew Busch | Published: November 12, 2009

US Treasury Secretary Tim Geithner has been hitting the air waves and the editorial page during his trip to the APEC conference in Singapore. From Bloomberg to CNBC, Geithner has been consistent in stating that it’s very important the US maintain a strong dollar. However, he is advocating the opposite for the Asia-Pacific nations.

In an editorial in the Asian WSJ with the finance ministers of Indonesia and Singapore, Geithner said. “Market-oriented exchange rates in line with economic fundamentals will be essential in assuring the resource and sectoral shifts to match and foster the new patterns of demand.” Clearly, they … …READ MORE

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WGN Radio Clips From Saturday

By Andrew Busch | Published: September 10, 2009

Here are the two clips from my Saturday interview on WGB radio in Chicago.

Jerry Agar and I talked about job losses in the United States, job gains in Canada, and why I was joking when I said the Bush years weren’t really that bad compared to now.

Clip One: http://www.illinoispolicy.org/uploads/media/mulitmedia/jerry/Andy%20Busch%20clip%201.mp3

In next section, we also compared today to the 1930′s and talked about the amount of power the unelected chairman of the Fed has. In the second section, you will hear which nation I blame for the world-wide recession.

Clip Two

http://www.illinoispolicy.org/uploads/media/mulitmedia/jerry/Andy%20Busch%20clip%202.mp3… …READ MORE

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Return to the Downside

By Andrew Busch | Published: March 30, 2009

Over the weekend, the bad news has returned with the volume turned up to a Spin Tap level of 11. This has shaken the equity markets hard. This is what I was concerned about last week and why I thought we’d trade ranges. To recap, my call was: “We’re going to need to spend time bouncing around in ranges from the S&P 500 (780-840) to the 10 year note (2.5% to 2.9%) to the US dollar (82-87) before we can gain certainty that the worst is over and that our past isn’t going to catch up to us.” Well, the … …READ MORE

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