U.S. Fed to increase briefings on Economic Projections.

November 14, 2007 - Forex Economic News

The U.S. Federal Open Market Committee has said that it will increase the number of economic projections that it makes to the public from twice a year to four times a year. The FOMC announced today in a statement that "it will increase the frequency and expand the content of the economic projections that are made by Federal Reserve Board members and Reserve Bank presidents and released to the public." The economic projections will also increase the scope of the projections from two years to three years. Fed Chairman Bernanke also said in a speech today that he sees the projections "as a forecast, as a provisional plan, and as an evaluation of certain long-run features of the economy" and will help improve understanding of Fed monetary policy for businesses, investors and the general public. FOMC Statement. Bernanke Speech.

Euro rises against USD, carry trades are back as Yen falls.

The euro today rose against the U.S. dollar as it broke above 1.4710. Carry trades are back as most major currencies rebounded against the yen on strong stock market gains. USD/JPY is trading around 111.40 at 12 noon est.

Jay-Z getting his Euro on.

Jay-Z getting his euros on.

Rapper Jay-Z flashing euros in his new music video "Blue Magic" is the latest diss to the U.S. dollar. Also, Bloomberg has a story that talks more U.S. dollar woes and what it means for Jay-Z to be flashing euros.

Tags: carry trades, Euro, Jay-Z, US FOMC, USD, JPY, Yen - - - - -Blog index