He highlighted a major difference of opinion with regard to the thinking at the BOE, the Federal Reserve (Fed) and the European Central Bank (ECB).

FORBES: Money, Economy, Statistics

It cited the positive aspects of the US economy, i.e. its high level of flexibility, independent central bank (The Federal Reserve or Fed), and the ensuing effective monetary policy that has lent support to growth while containing inflationary pressures.

FORBES: To Stay AAA, America Has To Act

"This is an impressive combination of extremely tight labour markets and extremely well-behaved labour costs, and that is the reason why the Fed (Federal Reserve) will continue moving at a very cautious pace, " said Anthony Karydakis of Bank One Capital Markets.

BBC: US productivity grows 5%

The good news is that the Federal Reserve is committed to keeping the Fed Funds rate low through 2013 (and possibly beyond) so dividend and EPS estimates for 2013 have been increased from late-2010 or early-2011 forecasts when expectations were that the Fed would be tightening.

FORBES: Agency Mortgage REITs: What Are The Analysts Saying?

Anton Braun of the Federal Reserve Bank of Atlanta (representing himself and not the Fed) and Douglais Joines of the University of Southern California.

FORBES: Japan Confronts Fiscal Reality: Consumption Tax Hike Agreed

Last month the Fed cut the federal funds rate (applied to money that banks lend to each other overnight to meet reserve requirements) by 1.25 percentage points, to 3%, in just eight days--the biggest one-month reduction in 25 years.

FORBES: Why Your Wallet Feels Thinner

The Wednesday afternoon conclusion of the two-day FOMC meeting of the U.S. Federal Reserve was not widely believed to see the Fed announce a major new stimulus initiative (QE3).

FORBES: Comex Gold Ends Moderately Lower as FOMC Produces No QE3