2 Must See Charts And An Important Quote Warning About The Limits Of Monetary Policy
KingWorldNews.com
February 25, 2016
Below are two must see charts and an important quote about the limits of monetary policy.
Here is a portion of today’s note from Art Cashin: A Little Wisdom From The Past –
But a note should be made here that, while money policy can do a great deal, it is by no means all powerful. In other words, we should not place too heavy a burden on monetary policy. It must be accompanied by appropriate fiscal and budgetary measures if we are to achieve our aim of stable progress. If we ask too much of monetary policy we will not only fail but we will also discredit this useful, and indeed indispensable, tool for shaping our economic development. …
Those are the words of the late, great William McChesney Martin, the longest serving Chairman of the Federal Reserve, serving under five presidents, from Truman to Nixon (H/T – Peter Boockvar).
Overnight And Overseas – With the exception of Tokyo, most Asian markets saw selling with Shanghai really getting clobbered.
Things shifted sharply when Europe opened. Banks and financials got a big boost when Lloyds declared a special dividend. Part of the European strength was catch-up to the U.S. afternoon rebound.
The Rest…HERE
