Fox Business News: Equity Movements, Unemployment, Deficit Negotiations and the Value of the US Dollar
Tim Speiss was a featured commentator and co-host for Fox Business News covering market topics. The market is reacting to key economic indicators especially the unemployment data to get a sense of how vigorous the recovery seems to be, whether recent month’s gains are sustainable. Clearly the over arching theme of deficit reduction and the debate on raising the debt ceiling are also top of mind with investors, as these are such important underpinnings for the value of the dollar.
Regarding the latest unemployment figures, where the rate still hovers around eight percent, Tim said, “We’re still adding jobs and the recovery, while gradual, continues.” What is of much more concern to Tim and others commenting on the show is the national debt and the deficit talks going on in Washington leading up to the next Treasury auction. “Debt to GDP is now 25 percent which since the 1950’s normally runs at 20 percent, even in periods of high unemployment”, Tim noted. “That’s troubling, especially to the value of our currency. It is to be hoped that the ongoing deficit talks and a federal budget agreement will put some support under the dollar.”
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