Steven Bell News
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Ever since Standard & Poor’s stripped the U.S. of its AAA credit rating almost two years ago, the unemployment rate has fallen, household wealth has reached a record and the budget deficit is shrinking. More downgrades may be coming, anyway.
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President Barack Obama has stopped worrying and learned to live with sequestration.
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Bank of Canada Governor Mark Carney was unexpectedly named head of the Bank of England as the U.K. government looked abroad for a candidate untainted by financial turmoil to lead the beefed-up central bank.
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Investors are again downgrading the decision-making of Standard & Poor’s.
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Federal Reserve Chairman Ben S. Bernanke’s focus on full employment and price stability is being validated as the U.S. expansion gains speed and his counterparts in Europe emulate his approach.
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Investors increased bullish bets on China’s currency, pushing yuan forwards to a five-month high, on prospects rising industrial output will help the world’s second- biggest economy meet its growth target this year.
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The Bank of England might need to take a leap of faith on an untested credit plan to do what quantitative easing is failing to achieve.
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Emerging-market stocks rose, lifting the benchmark index to an eight-month high, as the World Bank raised its East Asia growth outlook, business confidence in Germany improved and investors awaited a U.S. budget deal.
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Chinese stocks rose to a five-week high in New York as better-than-expected U.S. retail sales boosted the outlook for the Asian nation’s exports.
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London is losing so much trust as the global financial center that Prime Minister David Cameron may need to consider an unprecedented choice for Bank of England governor: Mark Carney, the Canadian who polices the world’s financial system and has no ties to the bailouts or rigged markets tainting Labour and Conservative governments alike.
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