Tuesday, August 10, 2010
Phil Flynn: If At First You Don't Succeed, Try, Try Again!
Instead of putting that money back in their coffers and reducing the money supply, the fearful Fed may just pump that cash back out there and buy more MBS or bonds to try to inspire some economic activity and maybe even some job creation. In fact data out of China overnight might even put more pressure on the Fed to act. Chinese imports came in much weaker than expected in July causing a big selloff in the Shanghai composite index. The index dropped 2.9% which was its worst percentage.....Read the entire article.
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