November 2013 Flash Report

Policy makers remain committed to stimulus. In early November, the European Central Bank cut its main interest rate to a record low 0.25%. Subsequently, the U.S. Senate Banking Committee approved Janet Yellen’s nomination as Federal Reserve Chair, all but assuring her confirmation. Black Friday (which sadly launched on Thursday this year) unleashed a predictable buying frenzy while online sales are associated with reduced brick-and-mortar crowds.

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