Chinese Not Big Fans of QE2, Either

Economics to English: NPR Translates Federal Reserve Communiqué (NPR) National Public Radio, via Slate Magazine and Planet Money, cleverly renders the latest Federal Reserve statement in language your mom will understand. (The news ain't pretty.)


No Relief Overseas for Obama (Wall Street Journal)Things aren't so great for the president abroad either: Plagued by economic troubles and a highly problematic midterm at home, President Obama meets skepticism about his economic agenda from international leaders.

Paul Volcker: QE2 Skeptic? (CNBC via Reuters) Paul Volker voices doubt about the ability of additional easing to aid the economy. He also has concerns about inflation. (Inflation: Don't you think that's something Volker ought to know about?)

Chinese Not Big Fans of QE2, Either (Financial Times) Chinese government officials have voiced skepticism about the direction of U.S. economic policy, including the latest round of monetary easing. They're also not happy about hard trade targets.

Stock Futures Dip Slightly Before Release of Jobs Report Data (Yahoo) After yesterday's 219 point DJIA rally futures are weaker this morning.

Increased Regulatory Scrutiny of Commodities Trading in the U.S. onMore Trading Volume (New York Times) For example: Cotton and Silver are up 95% & 43% respectively this year. (Incidentally, the article makes no mention of the likely driver of an uptick in commodities trading action: A deteriorating dollar.)

AIG Takes Loss on Accounting Charge (Reuters) Sale of a majority stake in American General Finance to Fortress causes a $1.9 billion pretax write-down.