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Washington
Inside Washington (08/25/2011)
* WASHINGTON (8/26/11)--An announcement of further asset purchases or “quantitative easing” by the Federal Reserve is unlikely as consumer prices rise and the economy continues to grow, financial industry observers said (Bloomberg Aug. 25). Gasoline costs are 33% higher and the consumer inflation rate has doubled and inflation expectations are higher since a year ago, when Fed Chairman Ben Bernanke gave indications for more easing at an annual Fed Symposium. Expansion of the U.S. economy remains slow, but the Chicago Fed’s index of 85 economic indicators increased in July for a third consecutive month. Those anticipating an announcement of additional easing will be disappointed, said James Dunigan, chief investment officer for PNC Wealth Management … * WASHINGTON (8/26/11)--The Federal Reserve Board has indicated it will allow more comment on Capital One’s acquisition of ING Direct’s U.S. operation (Politico Aug. 25). Consumer advocates say the $9 billion merger would create another “too-big-to-fail” institution similar to those that triggered the financial crisis in 2008. Consumer groups and Rep. Barney Frank (D-Mass.), the ranking member of the House Financial Services Committee, have urged the Fed to extend the public comment period on the deal. Although the comment period ended this week, the Federal Reserve said a decision on the merger was not imminent …


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