Why Pres. Obama released birth certificate this morning

It’s not what you think: “to finally put this canard to bed,” etc., etc.

No, IFO thinks the Obama press conference was to take attention away from Ben Bernanke’s first-ever press conference. The U.S. Federal Reserve bank head’s eagerly awaited public press debut, preceded by a public statement, was completely overshadowed by the birth certificate nonsense.

WSJ published the Fed’s statement moments ago. Summarizing that statement, they said:

The U.S. Federal Reserve signaled the end of its controversial $600 billion bond-buying program as planned, setting the stage for challenging decisions about whether to raise interest rates in the face of both high unemployment and looming threats of inflation.

This announcement could have had a huge market-moving effect, but the b.c. release sucked all the air out of that room.

A brief comment here on reporters’ language conventions: Fed officials don’t “say,” they “signal.” Sheesh! And policy makers – Why not “Federal Reserve Board members voted to …”

Advertisements

About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
This entry was posted in Economy. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s