Econintersect: In a wide ranging speech on the economy and monetary policy, Charles I. Plosser, President and Chief Executive Officer, Federal Reserve Bank of Philadelphia stated:
In my preferred policy framework, the federal funds rate target would be set in a corridor above the interest rate paid on excess reserves and below the discount rate (also called the primary credit rate). This corridor system is similar to the system that the Fed used before the crisis and is similar to corridor systems used by other central banks around the world. In fact, the Riksbank sets its policy overnight rate in an interest-rate corridor between the deposit rate and the lending rate.
Statista Chart of the Day - eBooks Account for 23% of U.S. Publisher Sales in 2012
by Felix Richter, Statista.com
Last week, TechCrunch reported that Microsoft is planning a $1 billion buyout of the digital arm of Nook Media, Barnes & Noble's eBook business that Microsoft is already partnering. The question that immediately followed was why Microsoft would be willing to pay so much money on an also-ran eReader business. The Nook eReader clearly lost to Amazon's Kindle line of readers in a market that is suffering from an ongoing shift to multi-purpose devices such as Apple's iPad.
Click on picture for larger image.
The mission of NASA's Kepler Space Telescope is to identify and characterize Earth-size planets in the habitable zones of nearby stars. Data returned by the telescope will allow scientists to estimate the number and sizes of planets in alien solar systems, and help identify the types of stars that could harbor planets.
Launched in 2009, Kepler orbits the sun every 371 days. As it travels, Kepler keeps itself pointed at a single patch of sky. Sensors monitor the brightness of more than 150,000 stars simultaneously, looking for telltale drops in intensity that could indicate orbiting planets.
The telescope is 15.3 feet long (4.7 meters) and weighed 2,230 pounds (1,052 kilograms) on Earth. A United Launch Alliance Delta II rocket launched Kepler on March 7, 2009.
Gasoline prices rose an average of 6.5 cents nationwide this past week (+8.0 cents since 29 April) - with the largest rise in the Midwest (7.0) followed by Rocky Mountain (+6.9) and the Gluf Coast (+6.5).
Average prices by region and a breakdown by grade follow after the "Read More".
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list describes why Too Big to Fail is stronger than ever........ and the last article says everything (not just stocks) is overvalued.