It is becoming increasingly clear that the Federal Reserve, as well as other central banks, will continue their accommodative monetary policy. Central bankers' concern that raising interest rates might choke off economic recovery is good news for equities, commodities and other risky asset classes. Bank of New York Mellon analysts said the "due care and attention evoked by many" central banks is "a clear reflection of the downside risks for economies still struggling with the excesses of the early millennium years."

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