Wall Street Roundup: Preparing for inflation, replacing Larry Summers
Preparing for inflation. Investors flocked to bonds and gold after the Federal Reserve's announcement Tuesday that it was ready to stoke inflation and fight against deflation.
Obama at home and abroad. A poll of investors from around the world found that President Obama has support overseas but that in the United States a majority are hoping for Republicans to win control of Congress.
Replacing Summers. A day after Larry Summers announced his departure from his job as the top economist at the White House there is speculation that President Obama may turn to a corporate executive rather than an academic to fill the job, which not everyone is happy about.
Corporate rebound. The expected wave of corporate defaults has not occurred, and the rate of defaults has dropped back to where it was before the crisis, the Wall Street Journal reports.
-- Nathaniel Popper