News
Bloomberg | Euro Slides as Trichet Signals Rate Rise Won’t Come in June; Yen Climbs
The euro dropped the most against the dollar in two weeks and slid versus the yen after European Central Bank President Jean-Claude Trichet signaled the ECB may wait until after June to raise interest rates again.
Econ Comments
Bloomberg | Federal Reserve Presidents Signal Record Stimulus Won’t Be Removed Soon
Eric Rosengren, president of the Federal Reserve Bank of Boston, and San Francisco’s John C. Williams followed the lead taken by Fed Chairman Ben S. Bernanke, who signaled last week that policy makers will keep stimulus in place after ending large-scale bond purchases in June.
Market Watch | Geithner: No monetary-system changes this decade
Treasury Secretary Timothy Geithner said Wednesday he doesn’t think there is any realistic prospect of truly dramatic changes to the global monetary system in the next decade or two.
Market Watch | Inflation will ease later this year: SF Fed chief
The economy is not at risk of runaway inflation, according to the new president of the San Francisco Federal Reserve on Wednesday.
Minyanville | Inflation Causing Economic Boom, Then Bust
Recent data suggests the inflationary boom is starting to lose momentum; we could see a full-scale inflationary bust, bear market led by all the old boom favorites.
Blogs
The Economist: Free exchange | Who's afraid of a sinking greenback?
Long-term weakening of the dollar is also likely to accompany efforts to diversify global reserve holdings away from the greenback. Other countries don't like the fact that when it comes to global reserve currencies, the dollar is the biggest game in town.
The Economist: Free exchange | The commodity-price speed limit, cont.
I don't think it's impossible to imagine a world in which four times as many people enjoy rich-world living standards as is currently the case. But for it to be possible, humanity must either start discovering and exploiting new earth like planets, or come up with revolutionary new ways to increase terrestrial supplies of critical resources, or dramatically decrease the resource-intensity of wealth.
