Tidings

Steady as she goes!
Watch for cross winds!
Catch the rising tide!

   Economic growth in the U.S. continued, the government reported Thursday, with output expanding by 3.5 percent in the third quarter ended September 30. That was not as strong as the 4.6 percent increase in GDP (Gross Domestic Product) posted for the second quarter, but enough of a healthy sign that regulators' stimulus efforts will ease.
   On Wednesday, the Federal Reserve said it would stop its pump-priming efforts in a month, assuming things continue as they have been. However, the Fed also emphasized that it would watch carefully for danger signs, and reserved for itself the notion that it would resume.
   That point was emphasized earlier in the week by Fed Vice Chairman Stanley Fischer. who reminded an IMF meeting in Washington that the Fed faces "special challenges" for itself as well as for "the global economy in an increasingly interconnected world."
   "A central bank cannot ignore developments beyond its country's borders," Fischer said, "and the Fed is no exception," especially since U.S. Treasury securities are "the world's favorite safe asset."
   For this and for many other reasons, the Fed will continue to monitor closely economic developments worldwide, Fischer said.