The markets seem to have had a rosier view of the US economy than the US Federal Reserve policymakers
John Robertson
PortfolioDirect
The markets seem to have had a rosier view of the US economy than the US Federal Reserve policymakers. Even with somewhat stronger growth and a slightly lower unemployment rate, the slack in the labour market remains a daunting challenge for the Fed to overcome. Even taking account of the demographic shifts toward a lower participation rate, there is little apparent risk of overstimulating. Bernanke said as much while raising the possibility of an accommodating policy even after the target unemployment rate had been reached because of the fall in labour participation. See my wire from 9 September. Also, in the aftermath of the Fed decision, see my 13 September wire about the risk in assuming unquestioningly that the Australian dollar is inevitably going lower. The Fed is unlikely to take account of Australia's needs.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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