Fed’s lonely hawk on the wires
KC Fed president Hoenig is on the wires saying that the consumer has done some retrenching but confidence is improving and that the overall economic outlook is positive.
Monetization of the US debt has not happened yet, but there is risk for such pressures ahead. He says he doesn’t know what “normal” is for interest rates but he knows it isn’t zero. He also says the Fed needs to change its “extended period” language.
Forex markets are in a shell-shocked state of calm after one of the more active mornings in recent memory.

AUTOREFRESH 













Well, Moody’s are saying January same store sales bode well for Q1 2010 earnings, whatever that’s worth.