Summers' Exit Ushers in Stock Spring | I3investor

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Summers' Exit Ushers in Stock Spring

StockFanatic

Publish date: Tue, 17 Sep 2013, 01:44 PM

Global Equities

US equities carried on higher, as Lawrence Summers' bowing out of the race for the US Federal Reserve's top job raised hopes that money policy could stay easy for some time yet. The Fed is expected to, after their twoday pow-wow, tap lightly on the brakes, reducing treasury purchases by USD5 billion. With Summers, the former Treasury Secretary out of the picture, Fed Vice-Chair Janet Yellen is now the front-runner in Washington's top guessing game of the summer. In coming months, the Fed will also have to grapple with filling vacated seats on the Federal Open Market Committee, as well as headship at some regional Fed banks.

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