Weekly media scan

In the news there was some talk of financial market regulation and the creation of new agencies to cover consumer interests among others. President Obama is in Asia seeking a "broader engagement" with the region. Asia will be the growth engine in the years to come. More recently the Obama administration commented on Germany's strength as an export nation, saying the US can learn from this. With the US dollar declining, American exports will become more attractive abroad, increasing domestic production. By the way, consumer sentiment unexpectedly fell.

The recovery does seem to be on track. A Fed official made some encouraging statements this week, though not on the job front:

Fed's Yellen sees signs of jobless recovery
By Greg Rob, Nov 10

WASHINGTON (MarketWatch) -- "The most recent economic data suggests that the U.S. could be about to experience another jobless recovery, said Janet Yellen, the president of the San Francisco Federal Reserve Bank on Tuesday. The past two recessions, in 1991 and 2001, were followed by so-called jobless recoveries, and "things seem to be shaping up similarly this time around," Yellen said in a speech in Phoenix. "I believe the overall economic recovery is likely to be gradual and remain vulnerable to shocks," Yellen said. With such a slow rebound, unemployment could stay high for several years to come."