Barrons picks up "Fed Responsibilities Outsourced to China"
Barron's picked up Thursday's Federal Reserve Responsibilities Outsourced to China:
"The Peoples Bank of China (PBOC) announced to day that they are effectively taking over the interest rate responsibilities from the US Federal Reserve.
The Chinese Central Bankers announced that, effective immediately, they are beginning a series of incremental rate hikes in the United States. The first rate hike was for 10 basis points on the 30 year.
The Fed’s inability to significantly impact long rates anymore is what led to the outsourcing.
Unlike the United States Federal Reserve, who hold interest rate meetings monthly, the Chinese Bankers will now meet daily. Look for rate announcements each day at noon..."
Whenever I write anything overtly snarky or tongue-in-cheek, I always wonder whether the sarcasm will be over-looked or misinterpreted. Based on the email, I'm glad to see that alot of people got it.
>
.
Source:
Fed Responsibilities Outsourced to China
Barron's INVESTORS' SOAPBOX AM
Saturday, July 23, 2005
http://online.barrons.com/article/SB112204501038093431.html
Monday, July 25, 2005 | 09:15 AM | Permalink
| Comments (1)
| TrackBack (0)
add to de.li.cious | 
digg this! | 
add to technorati | 
email this post
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/t/trackback/763/2879138
Listed below are links to weblogs that reference Barrons picks up "Fed Responsibilities Outsourced to China":
Comments
That may be 2 year old news. I read that Deutschebank said today (07/26/05) that Asian nations were shifting their reserves beginning in mid 2003. Take a look at a 5 yr chart of FVX, TNX, TYX.
Posted by: hans | Jul 26, 2005 8:14:00 PM
