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A regional Fed bank president and a man of many enthusiasms suggest that there will be no taper in your trick-or-treat bag or under your Christmas tree.
“We’re not on a pre-set course,” Charles Evans, president of the Federal Reserve Bank of Chicago told reporters on the sidelines of a monetary policy conference in Oslo. He said the Fed’s decision to start reducing its $85 billion in monthly bond purchases “could be in October, it could be in December, but it also could be at the January meeting.”
Jeffrey Gundlach, manager of the top-performing DoubleLine Total Return Bond Fund, said the U.S. Federal Reserve won’t reduce its monthly asset purchases, known as quantitative easing, until a new chairman takes over at the central bank at the end of January….
“It’s hard to believe the data will have such a monumental change in the next couple of weeks,” said Gundlach, chief executive officer and chief investment officer of Los Angeles-based DoubleLine Capital LP.
Fed May Not Start Taper Until January [WSJ Real Time Economics blog]
Gundlach Sees No Fed Tapering Until New Chairman Starts [Bloomberg]