New York, NY -- (SBWIRE) -- 08/11/2011 -- Mr. Edgar Perez, author of The Speed Traders, An Insider's Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), said that the Fed will need to do more than just keep its benchmark short-term interest rate close to zero for another two years as it sharply downgraded its view of the U.S. economy, in response to the recent U.S. debt downgrade decision by S&P.

As reported in The Wall Street Journal, Fed officials said they expect the weak economy to warrant exceptionally low levels for the federal funds rate "at least through mid-2013." While not the bold step to buy more bonds that some in the markets were hoping for, the move may help keep borrowing rates low and drive investors into riskier assets like stocks. The Dow Jones Industrial Average was up in volatile trade Tuesday, after suffering its biggest one-day decline since the 2008 crisis on Monday. Fed officials Tuesday also downgraded their assessment of the U.S. economy for the third time this year, saying that economic growth so far this year has been "considerably slower than the Committee had expected."

"Anxiety about a new economic downturn has increased recently, after data showed the economy grew by less than 1.0% in the first half and the U.S. saw its top-notch debt ratings downgraded for the first time. That has put pressure on the Fed to act, but its options are limited because short-term interest rates are already close to zero and the most powerful tool it has left -- buying more securities -- runs the risk of causing too much inflation."

"Fed officials discussed a range of policy tools to boost the economy, the statement said. Some analysts were expecting the central bank to say it expects its balance sheet to remain large for an extended period as well, but there was no time frame put on its continuing Treasury purchases."

The Speed Traders, published by McGraw-Hill Inc., is the most comprehensive, revealing work available on the most important development in trading in generations. High-frequency trading will no doubt play an ever larger role as computer technology advances and the global exchanges embrace fast electronic access. The Speed Traders explains everything there is to know about how today's high-frequency traders make millions—one cent at a time. In this new title, The Speed Traders, Mr. Perez opens the door to the secretive world of high-frequency trading. Inside, prominent figures drop their guard and speak with unprecedented candidness about their trade.

Mr. Perez is widely regarded as the pre-eminent networker in the specialized area of high-frequency trading. He has been featured on CNBC Cash Flow (with Oriel Morrison), TheStreet.com (with Gregg Greenberg) and Channel NewsAsia (with Lin Xue Ling), and engaged as speaker at Harvard Business School’s 17th Annual Venture Capital & Private Equity Conference, High-Frequency Trading Leaders Forum 2011, CFA Singapore, Hong Kong Securities Institute and Waters USA 2011, among other global forums.

Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a consultant at McKinsey & Co. in New York City. Mr. Perez has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.

Mr. Perez is one of the great business networkers and motivators on the lecture circuit; he is available worldwide for the following speaking engagements: Present and Future of High-Frequency Trading, The Real Story behind the "Flash Crash", Networking for Financial Executives, and Business Networking for Success.