The Presidential Daily Brief

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  1. Fed Reserve’s Recovery Picture Boosts Market Performance

    The S&P 500 closed at an all-time high on Thursday, good news after the recent slowdown. The improvement is partly attributed to Federal Reserve chair Janet Yellen’s assurance that the market had simply caught a chill during the period of unusually harsh weather. Speaking to the Senate Banking Committee, Yellen insisted that the Fed still intends to end bond purchases in the fall, as part of its move towards a tougher monetary policy. But she added that the stimulus rollback is not on a “preset course.” Even if we’re facing an equivalently hot summer, it seems that cool economic thinking will prevail. 

    Sources: ReutersUSA Today 

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