When the Federal Reserve announces that it’s going to lower interest rates, most of of us think we have some idea of what that means. When it announces, as it did this morning, a $200 billion “expansion of its securities lending program,” the meaning is a lot muddier–although Wall Street certainly took it as a [...]
Here’s a fascinating little development. From Michael Arrington at TechCrunch: Up to 20% of venture backed startups may have been convinced by their financial advisors to put much of their spare cash into something called Auction Rate Securities, on the promise of money market-like liquidity with better returns. Now, that money is frozen, and startups [...]
From the front page of today’s WSJ: A rising tide of inflation pressure around the globe is putting more stress on the beleaguered U.S. dollar, as central banks from China to Chile fight rising prices by letting their currencies strengthen. China’s yuan has already appreciated nearly 3% against the dollar this year, putting it on [...]
