Local

State Investment Head Nervously Eyes `Cliff’ Talks

View Comments
(credit: Jupiter Images)

(credit: Jupiter Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. Salvation Army Toy Shop Comes Thru Big For Single Dad
  2. Mpls. Office Workers Battle For Best Holiday Cubicle
  3. Police Activity Shuts Down I-694 In North Metro
  4. 4 Things To Know For Dec. 17, 2014
  5. Threats Of Violence Cancel 'Interview' Premieres

ST. PAUL, Minn. (AP) — Count Howard Bicker among those taking careful stock of the sputtering fiscal cliff talks in Washington.

The executive director of Minnesota’s State Board of Investment is keeping tabs on the stock market volatility related to the policy debate in Washington over taxes and spending. President Barack Obama and Congress have until Monday to o head off automatic tax increases and spending cuts.

The prospects for a deadline deal have dimmed. The lack of a deal is expected to send stock prices down while a pact could spark a rally. Either way, uncertainty vexes investors.

Bicker’s agency manages $62 billion in Minnesota government investments such as pension funds. He says there’s not much the board can do on short notice to buffer the accounts for market swings.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 2,321 other followers