quantitative-easing

SIX KEY MACRO THEMES

ON NORTH AMERICA

Risk assets are in danger of selling off when the Federal Reserve's QE2 programme draws to a close in June, according to Standard Life Investments' economist Douglas Roberts.

As investors, we all look back with 20-20 vision at the excesses of the TMT bubble, incredulous we could have allowed valuations to get so far adrift of economic reality.

Berkshire Hathaway's Warren Buffett says the US does not need more economic stimulus right now, although he has "enormous respect" for Federal Reserve chairman Ben Bernanke.

ON THE US

NORTH AMERICA

Further quantitative easing, low short-term interest rates and rising inflation will be key themes for the year ahead, says Patrick Armstrong at Distinction Asset Management.

COMMENT

The Bank of England has maintained interest rates at 0.5% and kept its quantitative easing programme at £200bn.