Archive - Feb 9, 2014

Although there are no policy making meetings, central banks will still dominate the agenda in the week ahead.  

Better watch out, bitcoin!

Iranian warships dispatched to the Atlantic Ocean will travel close to U.S. maritime borders for the first time, a senior Iranian naval commander said Saturday. The fleet, consisting of a destroyer and a helicopter-carrying supply ship, began its voyage last month from the southern Iranian port city of Bandar Abbas. The ships, carrying some 30 navy academy cadets for training along with their regular crews, are on a three-month mission. Reuters reports, citing Admiral Haddad, that "Iran's military fleet is approaching the United States' maritime borders, and this move has a message."

Just too too busy...

So what happened to the unemployment rate that it dropped so fast it surprised and embarrassed even the "venerable" Federal Reserve, which had initially expected a 6.5% unemployment rate some time in 2015. To get the answer we go back in time to the last (and only previous) time when the US unemployment rate dropped from roughly 10%, which was in June 1983, to 6.6%, which took place three and half years later, in December 1986 - let's call it the "Reagan Recovery" in short.