Media Navel Gaze: September 23, 2013

Mark Kollar  Follow

Media Navel Gaze

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. End of Story

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