NEW YORK (TheStreet) — Wall Street watchers eager for further monetary stimulus may want to be careful what they wish for.
The subtext of the message delivered by Federal Reserve Chairman Ben Bernanke on Thursday was that economic conditions would have to get much worse in order to merit more accommodation; be it an extension of Operation Twist or QE3.
The view of Julian Jessop, an analyst at Capital Economics, is that there have been no big surprises of late to merit getting worked up about the possibility of the world’s central banks swooping with a big rescue plan and that it may make more sense to hope things don’t deteriorate to the point where such a plan would be necessary. …
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