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Presidential Election Weighs on the Federal Reserve
The next significant event for monetary policy is not the Federal Reserve’s meeting Tuesday and Wednesday, which is likely to pass quietly, but the presidential election two weeks later. Mitt Romney, the Republican nominee, has said that he opposes the Fed’s efforts to stimulate the economy as ineffective and inflationary. And as president, he has promised to appoint a new Fed chairman. The term of the current chairman, Ben S. Bernanke, runs through early 2014. But the impact could be immediate as investors revise their assumptions about the future. “I certainly would expect the markets to respond, that they ... (full story)
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Carbon-Dioxide: the gas of life!
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