The Fed Chairman didn’t really say anything surprising yesterday. But he seemed willing to continue feeding the market their fix of easy money. John was also joined by Joe Antos, with the American Enterprise Institute, to discuss Obamacare’s profound impact on small and mid-sized businesses.
The market could be in for some sideways sledding after a rather remarkable pop from what was the cusp of a big correction. Volume is drying up and even good earnings reports aren't moving the needle.
With the Fed forcing interest rates low, commercial and industrial lending has picked up. That may sound like a good thing, but is it? I suggest it's not. Competition is such that "covenant light" lending has returned in full force.
Japanese Prime Minister Shinzo Abe, another in the long line of Mario Draghi-and-Ben Bernanke clones, has reconfirmed that the only way to get out of an economic hole is by digging the hole deeper, that is if you’re of the Keynesian bent.
Nancy Pelosi blames IRS Scandal on Bush. The markets are confused by Ben Bernanke’s testimony; but they really shouldn’t be. Bill Tatro also joined the program to talk about some of the unexpected items that might wage war on this so-called “recovery.”
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