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3XSQ: Stimulus, shmimulus!-Fed official

Thursday, August 23, 2012 - 03:51

Aug 23 - St. Louis Fed President James Bullard is downplaying the likelihood of Fed action, saying its latest minutes are ''a bit stale.''

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Ahead no guarantees that it'll open up its wallet and meet the president. -- here it's. Welcome to three Times Square this Thursday from Reuters world headquarters. Well who did the -- James -- to the party we did I guess because he is our power player of the day. The Saint Louis fed president came on CNBC saying. You too much into the minutes from the Fed's latest policy meeting according to the document. Ben Bernanke and his crew appeared to be ready to put more money on the table to support the recovery quote. Fairly soon. But described in minutes is quote a bit stay -- as the recent economic picture has been improving. He may be speaking too soon as the number of Americans filing new claims for jobless benefits unexpectedly rose last week. The market expecting 365000. Claims but the number went to 372000. Today's daily digit. This suggests the labor market may be feeling too slowly to make much of a dent in the unemployment rate. I owe it to be HP boss Meg Whitman the former eBay chief as a work cut out for her when it comes to turning around Hewlett-Packard. As with Dell a bunch of brokerages cut their price target on the company stopped. This after HP's -- eight point nine billion dollar loss narrowed its full year earnings outlook. HB suffering from a downturn in the PC market which has been hurt by the rising popularity of tablets and Smartphones. HP shares are down almost 8%. So things are looking very so so in the US but getting even worse in Europe. Looks like the eurozone is going to hit its second recession in three years according to the latest numbers. -- well well joins us in London with all the gloomy news axle. Yes and no naked -- is -- today I'm afraid Lisa bomber harassed at such a second recession. A second recession in three years as you said that for the Arizona now pretty likely act according to the latest business surveys have ahead. And it looks like the rough is even spreading to Germany as well the surveys out this morning made the pretty grim reading. While lot of fracturing and services numbers for the yet for the seventeen nation Euro zone brought did not up. But still a very weak indeed and they marked a seventh month below fifty and that divides contraction. And growth. But the real focus is a set seemed to be on Germany's fourth straight month of contraction there on the -- they just survey suggesting. We could see a shrinking of the economy Q3 which of course. Means -- Kazaa itself slip into recession. I've -- say it at the end of the year it a lot now depends on the ECB what I can do September 6 if we get something that stabilizes confidence. Then maybe. Just maybe we'll start to see investment coming back but tough for the time being program. All right delivered here in thanks -- in London. And finally we have three Times Square can sniff at a good story. First Lady Gaga as fashionable -- ensemble email or call. Now President Obama and Republican hopeful Mitt Romney have been turned into Jerky Boys literally. Immortalized in portraits made entirely of beef jerky. The -- -- artists use fifteen bags of jerky for each picture dubbing him Barack Obama meets and meets Romney. What's next Angela Merkel is Angolan -- Well that is the latest. Three Times Square this Thursday you can follow us on Twitter at Reuters Insider and check out our Reuters YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is players.

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3XSQ: Stimulus, shmimulus!-Fed official

Thursday, August 23, 2012 - 03:51