“We do not want higher inflation and we’re not tolerating higher inflation,” Fed chairman Ben Bernanke told Congress yesterday. In a way, that’s true. Washington is exporting higher inflation , which it does not want, to the emerging world, which must tolerate it. And Brussels has joined in. Read More
Employment is the most important issue facing the world over the next decade, Vikram Pandit, chief executive of Citigroup, along with the other co-chairs of the World Economic Forum, told journalists in Davos Wednesday. Read More
We often view Germans as stern, humorless, efficiency freaks who rarely fail. Think Angela Merkel. Perhaps that's not a fair characterization. Here are three examples this week that Germans can be funny, crazy, and fail. Read More
In May 2010, the Eurozone crisis began with turmoil in Greece. In spring 2012, new turmoil in Greece will frame the end-game of the Eurozone itself. Read More
David Riley, head of sovereign ratings for Fitch, has advised the European Central Bank to ramp up buying sovereign debt, and that the European Financial Stability Facility (EFSF) should be allowed to borrow money from the ECB. Hey, thanks for the advice. Now go back to your cubicle. Read More
Crosscurrents from Europe, a gaggle of Fed speakers and the start of earnings season in the coming week will provide a critical test for markets in the new year. Read More