Several members of the European Central Bank’s Governing Council are against the ECB buying more bonds. Add Austrian central bank Governor Robert Holzmann to the list.
Holzmann says Draghi’s QE Policy Is Counterproductive
by Wolf Richter, Wolf Street:
Cleveland Fed’s Underlying Inflation Measure Hits 3.0%, Hottest in the Data.
“Soft inflation?” The inflation measure by the Cleveland Fed — the “Median CPI,” which is based on Consumer Price Index data but removes the outliers in the data to reveal underlying inflation trends — jumped 3.0% for September, the highest in the data series going back to the Financial Crisis, when this measure was launched.
By comparison, “core CPI,” which removes food and energy prices, hit 2.4% in August and September, the highest since September 2008:
by Pam Martens and Russ Martens, Wall St On Parade:
Mark Pittman was the Bloomberg News reporter responsible for the Bloomberg lawsuit against the Federal Reserve seeking the names of the banks and their share of the trillions of dollars that the Fed was secretly funneling to them during the financial crisis. Pittman had already shared in a Gerald Loeb award for Bloomberg’s five-part series, “Wall Street’s Faustian Bargain,” and many felt he was a lock for a Pulitzer. But one week before Federal Reserve Chairman Ben Bernanke was to sit for his Senate Confirmation hearing on his reappointment to another term as Fed Chairman, Pittman died of a heart attack at age 52 on November 25, 2009.
from Russia Insider:
Washington polices international transactions via the SWIFT banking network. Iran is joining Russia’s Eurasian Economic Union and will soon use its alternative to SWIFT, called SPFS. This will be a huge blow to US sanctions, as Tehran will be free to do business with banks and companies using the SPFS, completely free of Washington’s oversight.
Russia and Iran will transfer payments using an alternative system to the internationally recognized SWIFT money transfer network, the governor of the Iranian central bank, Abdolnaser Hemmati, announced.