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  • Editor's pick
    • BASRA, IRAQ - OCTOBER 18:  People gather around a Land Rover as it arrives at the village Al Houta on October 18 2008 near Basra, Iraq. The trip by the 51 Sqn Royal Air Force Regiment Force Protection Wing was part of a 'key leader engagement' (KLE) visit to the village close to the Basra Airbase to recruit local labour and engage with the village shiek. Visits of this type are seen as key in efforts to continue winning the support of the local Iraqi population. Although improved security in the region has brought some benefits such as improved trade and commerce, much of the infrastructure remains in a poor state of repair. Britain's Prime Minister Gordon Brown has indicated that the number of UK troops could be scaled down - especially as the security situation in the south of the country continues to improve. From Getty Images.

      BASRA, IRAQ - OCTOBER 18: People gather around a Land Rover as it arrives at the village Al Houta on October 18 2008 near Basra, Iraq. The trip by the 51 Sqn Royal Air Force Regiment Force Protection Wing was part of a 'key leader engagement' (KLE) visit to the village close to the Basra Airbase to recruit local labour and engage with the village shiek. Visits of this type are seen as key in efforts to continue winning the support of the local Iraqi population. Although improved security in the region has brought some benefits such as improved trade and commerce, much of the infrastructure remains in a poor state of repair. Britain's Prime Minister Gordon Brown has indicated that the number of UK troops could be scaled down - especially as the security situation in the south of the country continues to improve.

    • Democratic presidential nominee Senator Barack Obama (D-IL) speaks during a campaign rally in the rain at the University of Mary Washington in Fredericksburg, Virginia, September 27, 2008. From Reuters Pictures by Reuters.

      Democratic presidential nominee Senator Barack Obama (D-IL) speaks during a campaign rally in the rain at the University of Mary Washington in Fredericksburg, Virginia, September 27, 2008.

    • A puppy stands on a truck carrying people to be evacuated from the area in preparation for the approach of Hurricane Gustav in Batabano, on the southern coast of Cuba, August 30, 2008. Powerful Hurricane Gustav roared toward western Cuba on Saturday with 125 mph (205 kph) winds on its way to the oil-rich Gulf of Mexico after a deadly pass through the Caribbean. From Reuters Pictures by REUTERS.

      A puppy stands on a truck carrying people to be evacuated from the area in preparation for the approach of Hurricane Gustav in Batabano, on the southern coast of Cuba, August 30, 2008. Powerful Hurricane Gustav roared toward western Cuba on Saturday with 125 mph (205 kph) winds on its way to the oil-rich Gulf of Mexico after a deadly pass through the Caribbean.

    • BANGKOK, THAILAND - AUGUST 30:  A member of Anti-government People's Alliance for Democracy (PAD) stands behind barbed wire outside Government on August 30, 2008, in Bangkok, Thailand. The protesters want to unseat the seven-month old coalition government lead by Prime Minister Samak Sundaravej. From Getty Images.

      BANGKOK, THAILAND - AUGUST 30: A member of Anti-government People's Alliance for Democracy (PAD) stands behind barbed wire outside Government on August 30, 2008, in Bangkok, Thailand. The protesters want to unseat the seven-month old coalition government lead by Prime Minister Samak Sundaravej.

  • Hot off the wire
    • A Buddhist monk looks on in Phnom Penh, Cambodia Thursday, Jan. 8, 2009. Buddhism is the predominate religion in Cambodia. From AP Photo by David Longstreath.

      A Buddhist monk looks on in Phnom Penh, Cambodia Thursday, Jan. 8, 2009. Buddhism is the predominate religion in Cambodia.

    • The cast of "House" including actors Hugh Laurie (3rd R) and Jennifer Morrison (4th R), pose backstage after winning the award for Favorite TV Drama at the 35th annual People's Choice awards in Los Angeles January 7, 2009. From Reuters Pictures by REUTERS.

      The cast of "House" including actors Hugh Laurie (3rd R) and Jennifer Morrison (4th R), pose backstage after winning the award for Favorite TV Drama at the 35th annual People's Choice awards in Los Angeles January 7, 2009.

    • TOKYO - JANUARY 08:  Former sumo wrestler Jesse Takamiyama (L) demonstrates the ease of the Electronic System for Travel Authorization (ESTA) at the U.S. Embassy on January 8, 2009 in Tokyo, Japan. The system will become mandatory on January 12 to all nationals or citizens of the Visa Waiver Program (VWP) countries. From Getty Images.

      TOKYO - JANUARY 08: Former sumo wrestler Jesse Takamiyama (L) demonstrates the ease of the Electronic System for Travel Authorization (ESTA) at the U.S. Embassy on January 8, 2009 in Tokyo, Japan. The system will become mandatory on January 12 to all nationals or citizens of the Visa Waiver Program (VWP) countries.

  • Recently starred
    • WASHINGTON - JANUARY 07:  U.S. President George W. Bush (C) meets with President-elect Barack Obama (2nd-L), former President Bill Clinton (2nd-R), former President Jimmy Carter (R) and former President George H.W. Bush (L) in the Oval Office January 7, 2009 in Washington, DC. On January 20, 2009 Barack Obama will be sworn in as the nations�s 44th president. From Getty Images.

      WASHINGTON - JANUARY 07: U.S. President George W. Bush (C) meets with President-elect Barack Obama (2nd-L), former President Bill Clinton (2nd-R), former President Jimmy Carter (R) and former President George H.W. Bush (L) in the Oval Office January 7, 2009 in Washington, DC. On January 20, 2009 Barack Obama will be sworn in as the nations�s 44th president.

    • North Korean leader Kim Jong-il (2nd R in the front row) visits the Chollima Steel Complex at an undisclosed location in North Korea, in this undated picture released by the Korean Central News Agency (KCNA) December 25, 2008. From Reuters Pictures by REUTERS.

      North Korean leader Kim Jong-il (2nd R in the front row) visits the Chollima Steel Complex at an undisclosed location in North Korea, in this undated picture released by the Korean Central News Agency (KCNA) December 25, 2008.

    • Balloons with anti-North Korea leaflets released by former North Korean defectors and anti-North Korea activists fly towards the North in Imjinkak pavilion, near the demilitarised zone (DMZ) separating the two Koreas in Paju, about 55 km (34 miles) north of Seoul, December 3, 2008. Dozens of activists, who demanded improvements of North Korea's human rights and the release of South Koreans abducted by the North, launched about 90,000 anti-Pyongyang leaflets in helium-filled balloons near DMZ on Wednesday. From Reuters Pictures by REUTERS.

      Balloons with anti-North Korea leaflets released by former North Korean defectors and anti-North Korea activists fly towards the North in Imjinkak pavilion, near the demilitarised zone (DMZ) separating the two Koreas in Paju, about 55 km (34 miles) north of Seoul, December 3, 2008. Dozens of activists, who demanded improvements of North Korea's human rights and the release of South Koreans abducted by the North, launched about 90,000 anti-Pyongyang leaflets in helium-filled balloons near DMZ on Wednesday.

    • An Israeli woman and her two children take cover during a rocket attack near Kfar Aza, just outside the northern Gaza Strip January 7, 2009. The woman came to meet her husband, an Israeli army officer currently serving on the Gaza border. Rockets exploded as they were waiting for him. Israel postponed on Wednesday a decision on whether to order its armed forces to storm the Gaza Strip's urban centres, an Israeli official said, citing Egyptian- and French-led efforts to secure a truce with Hamas. From Reuters Pictures by REUTERS.

      An Israeli woman and her two children take cover during a rocket attack near Kfar Aza, just outside the northern Gaza Strip January 7, 2009. The woman came to meet her husband, an Israeli army officer currently serving on the Gaza border. Rockets exploded as they were waiting for him. Israel postponed on Wednesday a decision on whether to order its armed forces to storm the Gaza Strip's urban centres, an Israeli official said, citing Egyptian- and French-led efforts to secure a truce with Hamas.

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...credit markets and economic activity. I find it slightly ironic that I chose red, white and blue to highlight the text of the FOMC release as I do not believe what I am witnessing in the financial markets is anything close to patriotic. In fact, I find it...
...a reduction in the benchmark interest rate to as low as zero, according to minutes of the gathering released on Tuesday. The FOMC also considered increasing emergency loans that have doubled the Fed's balance sheet to $2.3 trillion in the past year. Policy...
...a serious national debate about inflation. When the Federal Reserve decided to lower interest rates to near zero last month, the FOMC statement said that, "In light of the declines in the prices of energy and other commodities and the weaker prospects...
...range of 0.0 percent - 0.25 percent and has few additional options from a traditional monetary policy perspective. The release of the FOMC's meeting minutes at 14:00 ET from December 16, when they slashed rates to a record low target range of 0.0 percent -...
...a reduction in the benchmark interest rate to as low as zero, according to minutes of the gathering released yesterday. The FOMC also considered increasing emergency loans that have doubled the Fed’s balance sheet to $2.3 trillion in the past year. Policy...
...Fed can do so only if (1) a super majority of the Board of Governors - not the Federal Open Market Committee, known as the FOMC - declares the need for such lending to be the consequence of "unusual and exigent" circumstances, and (2) such lending is done...
...significant negative contributions of net exports, as the global recession took hold more strongly. The question was, for how long? The FOMC staff forecast that things maybe things would pick up by 2010. “In the forecast prepared for the meeting, the staff...
...Weak factory orders also are bad sign for future energy demand. Get stories by e-mail on this topic. The most bullish part of the FOMC minutes were the fears of deflation as the Fed will have no qualms about printing dollars to stir inflation. Of course as...
...to blast this one! And the Asshats still believe that NYC Real Estate market will be OK???!! Here is the "Oh No" taken from the FOMC minutes.. "Real GDP was projected to decline for 2009 as a whole and to rise at a pace slightly above the rate of potential...
...of minutes from the mid-December meeting of the Federal Reserve's rate-setting Federal Open Market Committee. See full story. The FOMC minutes "reminded markets of the Fed's fear about the extent of the recession and about deflation," wrote strategists...

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