Federal Reserve Open Market Committee Meeting
The Federal Reserve released a statement following its two-day Federal Open Market Committee meeting in which it said the Fed was prepared to provide more stimulus if needed. The Fed did note that signs of inflation increased as a result of rising energy prices.
The Syrian government and some opposition parties have agreed (in principle) to abide by a truce during the Muslim holiday of Eid, which begins on Thursday. Estimates range from 20,000 to 30,000 people have been killed since the war in Syria began in March 2011.
The Dollar Versus The Yuan
Are the dollars’ golden years behind it? A recent study reported by the Peterson Institute for International Economics found the strength of the dollar waning in some emerging nations. While it remains the primary currency of 31 of the 52 emerging-market currencies in the study, the yuan has eclipsed the dollar in key nations, including India, Malaysia, the Philippines and Russia, in the years following the financial crisis.
On a related note, the United Nations Conference on Trade and Development found that China has overtaken the United States as the world’s top destination for foreign direct investment in the first half of 2012.
The Rising Tide of Investment in . . . . Africa
The Dark Continent is looking a bit brighter as an investment opportunity as a result of the maudlin economic growth in Europe and America. Although the IMF anticipates a slight decline in GDP growth this year, the estimated 5% growth forecast is better than almost anywhere else in the world, reports The Economist.
Campaign Trail Economics
Were the 1920s really as bad as President Obama claims they were?