The Jackson Hole Economic Policy Symposium is an annual conference sponsored by the Federal Reserve Bank of Kansas City. It began in 1978. To date, there have been 37 conferences. The conference looks at future emerging issues and trends.
We can expect low short-term interest rates through 2015, despite the fact that tapering will probably continue next year.
The takeaway for investors is that bull markets can spark in anticipation of fundamental improvements.
The Spanish recovery continues to be heavily exports-based, and will likely remain this way as nominal wages continue to fall and the housing market bottoms.
The ECB kept their benchmark interest rate unchanged at 0.5% today. As with all central bank announcements, investors were focused on the nuances of ECB President Mario Draghi’s prepared remarks…