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US President Barack Obama will nominate Ben Bernanke to a 2nd term as Chairman of the US Federal Reserve Tuesday, keeping him on the job of guiding the world’s largest economy out of its deepest downturn since the Great Depression. Bernanke, whose appointment to a new, four-year term as head of the US central bank must be confirmed by the Senate, has flooded crippled financial markets with hundreds of billions of US$s in Fed liquidity and stepped in to attempt rescues of failing financial institutions such as Bear Stearns and AIG. Obama’s Democrats control the Senate, but Bernanke has faced criticism from lawmakers of both parties who say he has gone too far in extending Fed support that will be difficult to unwind, threatening future inflation. Investors have generally given Bernanke high marks on the job and had widely expected him to be kept on by Obama, although the announcement was not expected until later this year.

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Leading indicators now suggest that the global recession is coming to an end and the world economy is on the road to a policy-induced recovery. “The OECD’s composite leading indicators signal that the worst is over,” Tu Packard said in the global outlook report released Friday by Moody’s Economy.com, the research unit of Moody’s Corporation, which is independent of Moody’s Investors Service. The OECD refers to the Organization for Economic Cooperation and Development. Packard said he saw significant improvement in the world economic map in July, as compared with that in January. Ample liquidity provided by central banks has helped stabilize the financial markets and credit conditions and bank liquidity has been improving, he said. In Asia, China and India are again picking up growth momentum and are the first to recover from the impacts of the global financial turmoil and economic slowdown. Indonesia and Bangladesh are still members of the expanding growth club. Turkey and South Korea, which enjoyed broad-based growth in the second quarter, are projected to have an early recovery. South Korea and other industrialized Asian economies are also benefiting from a strong recovery in the electronics industry. But Japan remains in the slowdown phase, still troubled with high unemployment and massive overcapacity in manufacturing. Read more

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All of us at StockPreacher.com have been working tirelessly to keep our members up to date with breaking information from across the markets during this historic and troubled time. Our team has been expanding our information base as we have recruited analysts from around the world to provide current market forecasts and summaries of the days and weeks occurrences. There is an example of this on the left hand side of this report, titled:  “Some Wisdom from a Reader: The world belongs to those who adapt.” It is written by Paul Ebeling Jr. better known as the Red Roadmaster, a US market analyst and commentator.

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