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04 Nov 2010 20:39

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Biz: Stock market really likes Federal Reserve’s stimulus plan

  • 11,434 the Dow Jones Industrial’s close today, the highest close of the entire year so far
  • 1.96% the leap the Dow made in reaction to the Federal Reserve’s $600 billion money bomb announcement source
  • » The most impressive part: This is the highest that the Dow has closed since September of 2008, just before Lehman Brothers collapsed and turned the stock market into a shell of its former self. Alright, great. Now when are these largely rehabilitated firms going to start hiring some people back so everyone else can feel the economic recovery?
Posted by Ernie Smith • 0 Comments • Permalink

04 Nov 2010 20:13

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Politics: NPR cuts the crap, translates what the Federal Reserve wrote

  • So to give the economy a kick in the ass—and to pump up inflation a little bit—we decided to go on a shopping spree.
  • A reworded translation of a Federal Reserve statement • Trying to explain what the Federal Reserve really meant when it wrote the phrase “To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to expand its holdings of securities.” See? This is much easier to read. NPR’s Planet Money used a storytelling tool called “Plain English,” created by Slate, to explain what the Federal Reserve really meant when it announced it was shoving $600 billion into the economy. Ah, jargon. What would we do without you? source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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