90 seconds at 9am: US rates near zero until 2012?; Infratil profit outlook weaker

Watch You Tube video here. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news the US economy remains in the doledrums and the US Federal Reserve Chairman Ben Bernanke is talking about leaving US interest rates near zero for an even longer extended period, which some people are suggesting could mean rates stay very low until 2012. That is pressuring the US dollar lower and keeping the New Zealand dollar up at around 74-75 USc. Meanwhile, there may be some signs of exit from the emergency measures by the Federal Reserve. It announced overnight a reduction in the size of its discount window for loans to banks, Bloomberg reported. It was 90 days and has now been cut to 28 days. But the Fed is still buying bonds and printing money. Meanwhile, back in the New Zealand, Infratil has warned of a weaker profit outlook, but is pushing ahead with its plan to buy into Shell with the Super fund, Stuff reported. Shell's assets include its service stations, complete with hot pie cabinets. Let's hope Infratil is being careful to 'Blow on the Pie'.