Dollar Marks its Biggest Rally this Year as Sentiment Crumbles on Fed’s, China’s Fundamental Stumbles
The financial headlines were splashed with the horrendous performance of global equities and commodities Wednesday; but the real story for the day was the activity in the currency market. Looking at the benchmark for stock activity (one of the most accepted proxies for investor sentiment), the Dow Jones Industrial Average dropped a remarkable 2.49 percent.
Fed’s Lockhart comments on the newswires
- US Unemployment to come down slowly
- 5.5% to 6% realistic Long term target but will be a while
- No apetite in Fed to monetize Federal deficit
- Uncertainty a major factor in Business and Consumer
- Admin/Congress must agree on fiscal gameplan
- World will calm down with credible fiscal plan.
The comments made by Lockhart look great on paper but what are the realities of the ideas.
