Posts filed under “Financial Press”

WSJ’s Greg Ip Going to The Economist

A little birdie at the WSJ told me that Greg Ip, their longtime Federal Reserve reporter, is leaving the Journal for The Economist. His new post will be U.S. economics editor, where he will cover mostly the same beat as he does now: The Federal Reserve and economic policy.

This was confirmed by Reuter’s this afternoon.

Ip is widely thought of as a direct conduit from the Fed to the financial markets via the WSJ. When the Fed wants to unofficially communicate something to the Street, Ip is their usual mechanism.

Back in the day when John Berry was at the Washington Post (he’s now at Bloomberg) the Fed had a choice of conduits to use, depending upon who their target audience was. They could either go through the Washington Post to reach policy makers, Congress and even the White House. If they needed to informally reach Bond Traders, equity buyers and Wall Street economists, then the WSJ was their preferred vehicle:

"Ip’s stories in the Journal have been widely followed by financial
market participants seeking clues into the Federal Reserve’s thinking
about interest rates and the economy.

It described the thinking of Fed officials and the likelihood they
will hold benchmark lending rates steady for now despite market
expectations of a rate hike to fight accelerating inflation. The
article was widely cited by market players on Tuesday as a factor in
trading.

Investors and economists read Ip’s stories closely for insight into
the Fed’s thinking. Many people see him as someone with strong sources
inside the U.S. central bank and Wall Street, making him a conduit for
the Fed’s messages to financial markets."

Regardless of Ips’ departure, the Fed conduit is likely to remain at the WSJ: It is still the paper of record for Wall Street, and was long before Ip: Alan Murray before him (and before him, Gerald Seib?).

There are numerous other reporters likely to step into Ip’s shoes. (Sudeep Reddy or Phil Izzo are two possible candidates).

Although I have occasionally chastised Ip — mostly for unemployment and inflation generalizations — I have found him to be a fine reporter. In addition to his duties at the Journal, he also regularly contributed to Real Time Economics, one of the blogs at DJ.

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Previously:
Which is Wrong: Data on Growth or Employment?   (April 2007)
http://bigpicture.typepad.com/comments/2007/04/which_is_wrong_.html

What is the Fed Really Thinking? (March 2007)
http://bigpicture.typepad.com/comments/2007/03/fed_clarifies_p.html

Source:
Fed reporter Ip to leave WSJ, join Economist
Robert MacMillan
Reuters, Tue Jun 17, 2008 2:12pm EDT
http://www.moneyline.com/article/ousiv/idUSN1735675820080617

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Category: Federal Reserve, Financial Press

AP Fair Use & Blogging Link Policy

Category: Financial Press, Weblogs

Robert Novak is No Fed Expert !

Category: Federal Reserve, Financial Press

Washington Post: Boom, Bust & Aftermath

Category: Credit, Derivatives, Financial Press, Real Estate

WashPost Blames HUD for Housing/Credit Crisis

Category: Financial Press, Real Estate

Newsweek: Why It’s Worse Than You Think

Category: Contrary Indicators, Financial Press, Psychology, Trading

TheStreet.com Goes Flash Video

Bogof_flyer1Kudos to TSCM for moving to flash, rather than that crappy WMP video, they used to use. (Hey Bloomberg! How about you?)

I’m told that’s been running a couple of months, which shows you how often I’m at that part of the site.

Let’s pull a random, video to show — hey, how about this one? We showed you the ad for "Buy One House, Get One Free" on Tuesday; Later that day, TheStreet.com had an interview with my friend, Paul Kedrosky — who not only is a Real Estate guru (WTF?!) but loves the smell of Napalm in the morning !

Aside from that slight shift in title (from college professor and VC to love guru, here’s the accompanying video:

Previously:
California: Buy One House, Get One Free (June 03, 2008 | 09:00 AM)    http://bigpicture.typepad.com/comments/2008/06/california-buy.html

Source:
Two Homes for the Price of One?

Brittany Umar
& Paul Kedrosky
TheStreet.com, Tue 06/03/08 17:42 PM EST
http://www.thestreet.com/video/index.html#1577987862

Category: Financial Press, Real Estate, Video

Perception versus Value

Category: Credit, Derivatives, Finance, Financial Press

Uh-Oh: Economist Cover on Oil

Category: Commodities, Contrary Indicators, Energy, Financial Press

Barrons.com Goes Real-Time

Category: Financial Press, Markets