Market Voices: Week of February 22

Beginning this week, we’ll share some of the previous week’s best quotes, culled from thought leaders in the world of business, finance, and politics.

The Big Picture: U.S.”As the impetus provided by the inventory cycle is temporary, and as the fiscal support for economic growth likely will diminish later this year, a sustained recovery will depend on continued growth in private-sector final demand for goods and services.”Federal Reserve chairman Ben Bernanke, in testimony before the Committee on Financial Services, U.S. House of Representatives

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“I’m afraid that the economy will continue to operate well below its potential throughout this year and next. Even though the recession appears to be over, it does not mean that we are where we want to be.”Federal Reserve Bank of San Francisco president Janet Yellen, in BusinessWeek

“The biggest challenge that the Fed faces is navigating the next financial bubble–under way–caused by the continued low interest rates. [Read the full article]

Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (zaner.com) a Chicago-based futures brokerage firm.

Lower closes for the crude and heating oil along with the rbob and natural gas but no changes technically. The crude, heat and rbob are still in uptrends but we will have to closely watch to see what kind of follow through will result if any. Although I have buy signals in the crude, heat and rbob, they haven’t been able to get through heavy overhead resistance which may eventually be their downfall. Gas made its lowest low and close since early December and is closing in on contract lows. Buy Signals for crude, heating oil and rbob; Sell signal for natural gas. Please email me for a copy of my latest report on Crude Oil.

Higher for corn, Minneapolis, Kansas City and Chicago wheat along with soybeans and soyoil while lower for oats, rough rice and soymeal. [Read the full article]

Greece hasn’t typically been a country at the forefront of the world economy, but in recent weeks it has been making a lot of financial headlines. In late 2009, Greece announced that it had underestimated the size of its deficit, and then in early February of this year, fears began spreading that Greece might default on its sovereign debt (bonds issued by the Greek government), causing the cost of insuring that debt against default to skyrocket.

Although the immediate crisis eased when other European Union countries agreed to support Greek debt, the incident has put a spotlight on the problems of Greece and other debt-laden countries in the euro zone, especially Italy, Portugal, Spain, and Ireland. These five economies at the periphery of western Europe have been especially hard-hit by the financial crisis, and European authorities are now trying to help them stay fiscally sound without causing too many unintended consequences elsewhere. [Read the full article]

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