Meredith Whitney on 60 Minutes: Expect 50+ muni bond defaults in 2011

The markets remain supported by strong fundamentals, such as growing earnings, sturdy consumer spending, a healthy labor market and cooperative inflation. Given the economic momentum, Fed Chair Powell indicated that the central bank is in no hurry to lower interest rates further.

Fed hawkishness, UK policy caution, and Japan’s gradual tightening define the global outlook, as inflation risks, fiscal uncertainty, and resilient data shape expectations.