♦ Mr Bernanke scared markets after announcing Wednesday that the Federal Reserve will take a more heavy-handed role in the US economy with an “ambitious timetable” of quantitative easing. The announcement fueled a sell-off in equities, bonds and commodities causing world-wide financial turbulence and hitting emerging markets the hardest. People are questioning his earlier optimism in the US economy, the FT reports.
♦ Ashin Wirathu, leader of a radical Buddhist group in Myanmar, has launched a campaign against the country’s Muslim minority, according to the New York Times.
♦ Manhattan-based analysts at United Against Iran, a “privately funded advocacy group,” are trying to keep Iranian merchant ships from breaking economic and trade sanctions via satellite transmissions, navigational data and computer algorithms.
♦ The FT’s Phillip Stephens finds the election of Iranian president Mr. Rohani will likely not stop the country’s development of a nuclear weapon.
♦ China’s central bank has refused to ease the country’s credit crunch by injecting extra cash into the market, which has led to suspicions that the government is to blame.
♦ Actor James Gandolfini died Wednesday, having achieved recognition late in life for his lively characterization of Tony Soprano in the hit television series. Read more