Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.
- Yellen Says Financial Instability Shouldn’t Prompt Rate Change (Craig Torres and Jeff Kearns, Bloomberg) The Fed chair told the IMF (International Monetary Fund) this week that there are “pockets of increased risk-taking” in the financial system, but that is primarily a concern of regulation, not of interest rate policy which faces “significant limitations as a tool to promote financial stability“.
- Hurricane Arthur to hit energies (Phil Flynn, Futures Magazine) Employment numbers and lowered inventories are bullish but both may be dominated by a drop in demand in the wake of hurricane Arthur. The expected July 4th holiday driving surge along the U.S. east coast may be washed out by the first hurricane of the 2014 season.
- S.Korea, China agree to launch Won-Yuan trading market in Seoul (Xinhua) According to the South Korean presidential office, South Korea and China have agreed to launch a market for direct trading between currencies of the two countries. An exchange may open in Seoul this year. The stated objectives are to reduce foreign exchange costs and risks for companies and boost bilateral trade and investment. See more ‘behind the wall’.
- Have We Been Reading the Declaration of Independence All Wrong? (MSN News) Scholars are uncertain whether a period (see below) actually exists in the original Declaration of Independence. If it is not there then Jefferson and the signers of the Declaration of Independence can be inferred to have a “big government” view that has not previously been considered and also that the fundamental rights of “all men” extend beyond “Life, Liberty and the pursuit of Happiness” to the power of government. With the period in question in place, government can be interpreted as subservient; without it government assumes a more equal footing. See also If Only Thomas Jefferson Could Settle the Issue (Jennifer Schuessler, The New York Times).
There are 12 articles discussed today ‘behind the wall’.
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