The Fed and Middle East lead the week
The Federal Reserve
The decision to launch QE3 was expected, but the Fed has departed in three important ways from prior practices. CNBC’s John Carney notes that the Fed did so by adopting an approach of open-ended expansion, directing targeting the labor market and taking dramatic steps despite the fact the economy has not weakened considerably since its last meeting.
European Central Bank President Mario Draghi is expected to address the German parliament to explain the Bank’s strategy. In neighboring Spain, it is becoming more evident that a bailout is likely, but when and how much is unclear. In a new tack, Spain is now eyeing the Catholic Church as a new source of revenue.
UN envoy Lakdhar Brahimi is on a three-day visit to Syria that has included a meeting with Syrian President Bashar al-Assad. Brahimi admitted on his first day that he has no plan for a crisis that he maintains is a threat to the region and the world.
US Foreign Policy
Leaving the bluster and the pledges for a new path forward from both candidaites, it is unlikely that the election will change the direction of US foreign policy in the Middle East.
A Palestinian Spring?
Foreign Policy magazine looks beyond the street wondering whether the protests in the West Bank may actually indicate a coming Palestinian Spring.