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Bernanke's Bumpy Road Ahead
BusinessWeek Online - As the apparent incoming head of the Federal Reserve Board, Dr. Ben Bernanke has a tough act to follow. Alan Greenspan has been perhaps the most successful Fed chairman in history, with inflation remaining calm and only two mild recessions during his 18-year tenure.That means the incoming chairman will inherit a stable economy, with low inflation and solid growth. Yet the problems and imbalances he must handle are big. Here's a look at some of them.
Greenspan Warns Anew on Trade Deficit
AP - Foreign investors will likely tire of bankrolling the bloated U.S. trade deficit but the economy's flexibility should help temper any fallout, Federal Reserve Chairman Alan Greenspan said Monday.
Greenspan says US deficit cannot grow forever
AFP - Federal Reserve chief Alan Greenspan said the huge US current account deficit cannot expand forever as foreigners will one day tire of financing it.
Dollar surges higher as market shrugs off 'balanced' Greenspan
AFP - The dollar surged higher across the board, trading close to two-year highs against the euro and reaching new 27-month highs against the yen after comments by US Federal Reserve chairman Alan Greenspan did little to reign in a bullish market.
Retail sales likely dip
Reuters - U.S. retail sales likely fell in
October as demand for cars declined and gasoline prices
slipped, but analysts pointed to solid demand for goods and
services outside the auto and energy sectors.
Dollar surges as market shrugs off 'balanced' Greenspan
AFP - The dollar surged close to two-year highs against the euro and topping 27-month peaks against the yen after comments by Federal Reserve chief Alan Greenspan did little to rein in a bullish market.
Treasuries fall as market awaits key data
FT.com - Treasuries fell and yields rose as investors positioned for a raft of key market-moving data and events this week.Among the events due are US retail sales numbers and producer prices figures due on Tuesday, and consumer price data on Wednesday, which may give a clearer picture of the inflation outlook ahead of the Federal Reserve's December meeting.By late trade in New York, yields on two-year notes were up 5.5 basis points at 4.493 per cent.Early in the day, attention had returned to 'curve flattening' as the difference between two- and 10-year yields narrowed tro 10. ...
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