Driving the Day: 4/9/12
Apr 9, 2012
Need to know…
- Fed Chairman Bernanke to Deal With March Jobs Numbers. Following Friday’s weak jobs number, Federal Reserve Chairman Ben Bernanke will now face increasing pressure to start another campaign of asset purchases (QE3) to keep interest rates at rock bottom levels and prevent 2012 from becoming another 2011: a good start followed by a weak finish and another flirtation with double-dip recession. Bernanke is set to discuss financial stability today.
- Gas Price Soar to Almost $4 Per Gallon. The average price of gasoline could surpass $4 per gallon nationwide as early as this week. It’s already $3.93 per gallon, a record for this time of year.
- Brazil’s President to Talk Trade and Energy at the White House. In the afternoon, President Obama will host President Dilma Rousseff of Brazil for meetings at the White House as part of the leaders’ ongoing dialogue regarding the growing partnership between the United States and Brazil.
- Inflation Rises in China. China’s inflation accelerated more than forecast in March amid rising wages and a fuel-price increase, signaling that policy makers may exercise caution in adding stimulus to boost growth. Consumer prices rose 3.6% from a year earlier after gaining 3.2% in February. Today’s data show Premier Wen Jiabao’s officials may need to remain alert to the risk of inflation bouncing back even after price increases stayed below the government’s 4% target for a second month.
Worth the read…
- Brazil-U.S.: Time for Bold Partnership – Greg Page and Tom Donohue via Politico
- Oaktree IPO, Seven Others to Launch in Busy Week – Reuters
- Heirs to Old Money Plunge Into Tech – DealBook
- Executives of Mid-Sized U.S. Companies More Upbeat – Survey – Reuters
- IRS Confident Courts Will Uphold Effort to License Tax Preparers – The Hill
- AOL to Sell Microsoft 800 Patents for $1B – Fox Business
- Traders Navigate a Murky New World – The Wall Street Journal