Media Navel Gaze: September 23, 2013
The Week Unpeeled
Fed Week: First, the Taper Caper re-emerged, with the central bank signaling no immediate slowdown in its bond buying, surprising almost everyone and sending the Dow to record highs. Then a not-so-fast-move debate on what the real next move may be caused more than a bit uncertainty, making some lose a bit of credibility in the Fed and others to sell stocks a bit. The flip-flop taper stance was a bit of a bite for portfolio managers. And meanwhile, President Obama’s apparent pick for the next Fed chief, Lawrence Summers, withdrew amid more than a bit of controversy (he of no-taper stance) with current Fed vice chair Janet Yellen now seen as frontrunner. (Whew!)
Elsewhere:
- The Dow ended the week up 0.5 pct to close at 15,451 after making an all-time high on the surprise Fed announcement;
- Queen Latifa launched her daytime talk show;
- Time named Nancy Gibbs as manager editor, first woman in the role for the national magazine;
- JP Morgan’s negative spotlight continued with London Whale fines expected at approximately at least at $900 million in the US and UK;
- NPR is taking its weekend edition of “All Things Considered” to California, with Arun Rath from Frontline serving as its new host; and
- Super Bowl top tickets are expected to cost $2,600.
