Insights Overview Summary
Tony Crescenzi, PIMCO executive vice president, market strategist, author and portfolio manager, shares his insights into the Federal Reserve, global central bank activity, monetary policy and pressing economic issues.
To decide when the Fed might begin to taper its asset purchases, closely monitor the Fed’s favorite labor market indicators.
PIMCO’s global central bank watchers provide their outlooks for 2013.
Our to-do list for the Federal Reserve Board Chairman before his term ends.
The era of deleveraging is far from over, and the U.S. continues to face challenges that can only be resolved through cooperation among the nation’s elected officials.
The excessive use of debt fueled by money printing was the pathway to the global debt crisis. Money printing is the highway out.
To borrow a phrase from the vernacular of American football, central bankers have taken the ball about as far down the gridiron as they can.
Central banks are printing “emergency money” on a massive scale in an attempt to reflate asset prices and combat the wretched effects of the debt deleveraging process.
An uncertainty that cannot be measured is a true form of risk.
Like Hamlet, Federal Reserve Chairman Ben Bernanke faces a choice – whether or not to conduct a third round of Treasury, agency and/or mortgage-backed securities purchases in order to fend off the ravages of the deleveraging process.
The ability of central banks to sustainably reflate the economies of the developed world remains very uncertain.
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