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Bear , Stearnsdoubled its forecast for the possible Fed rate reduction to half a percentage point.
Unlike Mr. Summers, a former Harvard president who had been mentioned as a possible Fed chairman, she is not widely seen as a polarizing figure.
In an attempt to give Mr. Bernanke as much flexibility as possible, Fed policy makers issued a statement soaked in so much ambiguity that Wall Street analysts variously described it as the end of rate increases, a warning of new ones, or something in between.
"I think you'll see mostly short covering into the number at two o'clock," says Boyle, referring to a possible Fed funds rate cut by the Federal Reserve Board.
Of the three new possible Fed governors to be proposed by the Obama administration, Ms. Yellen would be most influential in setting monetary policy.
While on the face of it this is a positive, and removes one of the uncertainties that has lingered in the background for months on end, it does remove one obstacle to an eventual start to a possible Fed taper next week, which could be another reason why stocks are finding it difficult to rally right now.
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You'll probably want to save as much money as possible for pampas-fed steak and Malbec (or eat in on of the city's "secret" restaurants if you're on a budget), while still staying somewhere stylish.
("JPMorgan Disclosed Possible Misconduct to Feds Ahead of Earnings," Reuters, July 16 , 2012.
Feds probe possible terrorism links in San Bernardino massacre.
So far, Secure Communities has deported 100,000 Californians, most of whom did not have a serious criminal record, the Los Angeles Times reported, but the new law will require people to be charged with or convicted of a serious offense before being held for possible deportation by the feds.
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