For the second time in 2011, China's central bank raised the reserve requirements for the country's banks. The reserve hike is an attempt to slow lending and keep the Chinese economy from overheating.
Chairman Bernanke defended the Fed's quantitative easing policy amidst criticism that cheap money is fueling inflation and asset bubbles abroad. Bernanke argued in the speech that other nations have plenty of tools to combat overheating and that the U.S. is not to blame for their problems. He also urged countries with large trade surpluses to help correct global imbalances by allowing their exchange rates to better reflect market conditions. The full throated defense of the Fed's polices is further indication that Bernanke has no intention of changing the central bank's easy money stance anytime soon
(no major data today. market is flat)
Above 1340 to me is kind of risky
Friday, February 18, 2011
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