| discount Burberry men t-shirts |
Enlarge images
Eugene Hoshiko and j. Scott Applewhite/ap
Janet yellen and Lawrence Summers, Lawrence Summers, led to the fed's two top contenders. Expectations have appeared recently, Mr. Summers will be nominated.
Enlarge images
Fred Prouser/Reuters
Mohamed el - erian bond fund management company Pacific investment management co (Pimco) chief, says Mr Summers of policy ideas.
Nervous, and even some analysts spend summers, may result in slower economic growth, creating jobs and less higher interest rates than if the President called janet yellen, vice chairman of the federal reserve.
Companies to raise funds, to buy houses and cars are faced with higher interest rates in recent months has shaken the fed's campaign to rein in borrowing costs. Interest rates rise, reflect the development of economy, and expected the federal reserve will begin to give back, later this year. But a wide range of financial analysts also see the evidence for effectiveness of summers.
Many investors expect yellen would be nominated to replace bernanke as the central bank, a choice, would send a clear message to the head of the continuity.
| Philipp Plein men pants |
Anxiety is a small product information and a lot of speculation. Who served two years of Mr Obama's chief economic adviser, an economist at Harvard University, Mr. Summers said, monetary policy in recent years. Investors leave parsing a few comments, he expressed some benefit of the doubt and concern about the consequences of the fed's policy.
"People don't know what to do with larry," said mohamed el - erian, chief executive officer of Pacific investment management company (Pimco), the giant bond fund manager. "There are a lot of information, lack of larry's point of view. We don't have enough information to make evaluation, is only the second, some third-hand account."
Some doubt always attend the arrival of a new chairman of the federal reserve, but the result is a special occasion, because the fed's effectiveness depends on its ability to more and more, in order to reduce the uncertainty of investors is loaded. Traditional central bank floor the accelerator pedal, five years ago, when pushed short-term interest rates to zero. Since then, its focus is mainly to convince investors will keep near-zero short-term interest rates to further reduce long-term interest rates - to determine the most kinds of borrowing costs -.
The fact that as many as five seven governors of the federal reserve, may replace the uncertainty aggravate next year.
A governor at the end of August, Elizabeth a duke, to step down. The second governor Sarah bloom raskin, has been nominated as deputy finance minister. Mr Bernanke's term ends in January, as the fourth term, Jerome Powell - though Mr Obama can choose to be reappointed Mr Powell to join the fed only in May of last year, is said to be a republican stay open for a longer time. If yellen by Mr Obama, she can also choose to leave, even in her term as vice chairman of the end of October 2014.
Mr Obama said, the head of the federal reserve last month, until the autumn, he won't announce his choice, he is considering at least three candidates: Mr Summers, yellen and former fed vice chairman Donald l. Cohen. But Mr Consistent support for the President's top economic adviser Lawrence summers. They regard him as a creative thinker and experienced crisis managers, they pay special attention to the quality, because they expected, the federal reserve may face a difficult choice, because it began to retreat, stimulate the movement from 6 years old.
They also insist that Mr Summers to support the fed's efforts to revive the economy, and will continue these efforts.
But Mr Summers criticised the fed to buy Treasury bonds and mortgage-backed securities, warned that on such a scale purchases may distort financial markets. This, he says, is "the real economy less efficacious than most people think." And, therefore, many investors doubt, he will seek anti-beatle faster over the purchase.
Julia, BNP Paribas (BNP Paribas) chief north American economist coronado, said last week, the benchmark 10-year bond yields have started to rise, the price of the investors in the summers. She added, the final production could rise more than half a point, if the President nominated yellen instead. Ms coronado, estimates the effect of summers will reduce domestic economic growth from 0.5 to 0.75%, over the next two years, this can reduce the jobs of 350000 to 500000 jobs.
Summer, she writes, "in the high cost of market volatility and interest rates, and a less active recovery."
The leadership of the federal reserve would disrupt financial market changes than other major central Banks of leadership, according to a 2007 study of economist Kenneth kutner, at Williams college, and Adam posen of the peterson institute for international economics, international economics. This is partly because the federal reserve is the most close to a global central bank. But it also reflects the fed chairman, who is less than that of other central bankers decisions matter.
Bernanke sought to reduce the role of chairman, the mainest is through the adoption of the inflation target of 2%. The fed also announced its intention to hold the near-zero short-term interest rates at least as long as you keep the unemployment rate over 6.5%, in the process of short-term policy, trying to lock. But, says Mr Posen market turbulence in recent months suggests that investors still think chairman will decide the choice of policy process. "This is I don't believe, forward to guide the work of one of the reasons," he wrote in an E-mail that the fed's statement about the intention of the short-term interest rates. "Is there a way, it can bind to a new President."
Historically, the fed's new chairman, his quick action, investors can be solved.
After a week, President bush announced that Mr Bernanke's nomination, in October 2005, in 10 years
没有评论:
发表评论