Many regional Federal Reserve bank representatives voiced concerns today about the Federal Reserve’s plan to invest $600 billion in treasuries for quantitative easing. Unfortunately, these concerns were not limited to other Fed officials but were also shared by world financial leaders. Some of the concerns, mentioned in articles on CNN.com and Reuters, include inflation, the creation of another asset bubble and currency devaluation.
Berkshire Hathaway’s (NYSE: BRKA, BRKB) third quarter 2010 financial results were released late on Friday and reflected a drop in net earnings from $3.2 billion during quarter three of 2008 to $2.9 billion in 2010. You can see the full report here.
The Dow Jones Industrial Average was down for most of the day as investors once again became concerned about the global economic climate in the face of Fed criticism and Ireland’s debt crisis. The Dow finally closed down 37.24 points to 11,406.84. The Nasdaq was up 1.07 points to 2,580.05 and the S&P 500 lost 2.60 points to 1,223.25.
European and Asian markets were both mixed on Monday.
Stocks in the news: Sysco Corporation (NYSE: SYY), AOL Incorporated (NYSE: AOL), Yahoo Incorporated (NASDAQ: YHOO).
