Around The Financial Water Cooler This Tuesday
Expiration of the Payroll Tax Cut
Economists and politicians have reached a general agreement that the payroll tax cut, which was passed to spur on the economy, should expire at the end of the year given its long-term impact on Social Security. There is less consensus on whether its expiration will or will not have a negative impact on the economy.
Federal Reserve Set To Revisit QE3
Greg Robb of Marketwatch believes the Federal Reserve will begin its two-day Federal Open Market Committee (FOMC) meeting by weighing an increase in the size of QE3.
Who Will Fill The Vacancies At Treasury And The Fed?
Regardless of who emerges victorious in November, the next president likely will have to fill the big shoes at the Treasury Department and the Federal Reserve Board.
Uncertainty About The Uncertainty
Caterpillar CEO Doug Oberhelman does not see any signs of a global recession, but he tells CNBC that with “worldwide growth at 2.5 percent or so, and U.S. growth at 1.5 percent, it’s really hard to see where we’re going to go with a lot of the uncertainty in the next 60 to 90 days.”
Europe, in particular, is where Oberhelman sees the coming months the most uncertainty as the European Union weighs its choices on keeping Greece afloat and what approach to take in Spain.