DOLLAR MIXED AS HOPES FOR JACKSON HOLE SOLUTION FADE

"Two stimulus-driven stories are shaping up events on Wall Street on the eve of Bernanke’s Jackson Hole address. “Don’t expect Bernanke to offer more support for the economy,” is the warning from former Soros advisor, Richard Medley. He says that rear-view inflation resulting from the first two waves of quantitative easing have created resistance among FOMC members to doing more. But better-targeted relief could be on its way according to a New York Times article characterizing refinancing for millions of homeowners with mortgages backed by government agencies Fannie Mae and Freddie Mac. The loose talk is that qualifying borrowers could have mortgage rates reset to 4% freeing up more in terms of disposable income..."

at http://pragcap.com/dollar-mixed-as-hopes-for-jackson-hole-solution-fade