Toyota’s losses and the Federal Reserve’s silence
This final note today, two quick observations about Japan on the way out.
First, the Federal Reserve. Not mentioned at all in the statement today by the agency supposed to be looking at the very macro-economic picture? Japan.To be fair, economists are split on what the earthquake might mean here and globally, but kind of surprising not to see it in the statement.
In that vein, Goldman Sachs guessed today that Toyota stands to lose $73 million a day in profit for as long as its Japanese plants are shut down, which as of right now is through tomorrow at least. We’ll have more on Japanese camakers and the earthquake on the show tomorrow.
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