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| Bernanke: Fed Sees Slower Growth, Uptick in Inflation |
| 2011-04-27 |
| In his first regular news conference, Federal Reserve Chairman Ben Bernanke said the central bank was continuing its stimulus policy because it was projecting slower growth in the economy with only a modest uptick in inflation. At least in the universe he is living in. On unemployment, the Fed projected a range of 8.4-8.7 percent for the year, better than the 8.8-9.0 percent range offered in January. And of course he didn't mention that those figures don't include people who no longer have unemployment. In an earlier statement, the Fed's policy-setting Federal Open Market Committee left the federal funds rate unchanged and indicated it intends to complete its $600 billion bond buying program in June as scheduled. Because they just can't get the printing presses to go any faster! In the face of headwinds from high oil prices, the U.S. central bank said that the economic recovery was proceeding at a "moderate pace" -- dialing back slightly from a statement in March when it said the economy was on "firmer footing." At least when compared to last year's epic 'Summer of Recovery!' It again expressed confidence a surge in the cost of oil and other commodities would be transitory and not spark a broader inflation. Because you can't 'spark' a fire which is already raging. |
| Posted by:CrazyFool |
| #6 Yep, because the USDX sank like a rock, while he was speaking. He said the weak dollar is Geithner's problem. But only Congress can get spending under control, and Geithner can't force Congress to do anything. Go long Au, Ag, & Cu-plated Pb! |
| Posted by: RandomJD 2011-04-27 20:52 |
| #5 A lot of people listen. When he started talking the silver ETF was at 44. When he stopped it was at 47. |
| Posted by: Matt 2011-04-27 18:27 |
| #4 So who ya gonna trust, folks, Benny or your lying eyes? Who listens to these fuckin people anymore? |
| Posted by: tu3031 2011-04-27 17:41 |
| #3 Nice to see that the experts' discussion of the event had everything to do with Beni's presentation and nothing for policy. Why not just say upbeat enough to appear in control but such drab rhetoric as to not make the news, and his shoes were simply fabulous. Why do I feel my investment in tools and durable goods around my property will look brilliant in about 6 months. |
| Posted by: swksvolFF 2011-04-27 16:56 |
| #2 Yay! More of the same FAIL as before! Can we get rid of this clown show please? |
| Posted by: DarthVader 2011-04-27 15:51 |
| #1 Can we call this Bernanke's "Welcome Back Carter" speach? |
| Posted by: Frozen Al 2011-04-27 15:47 |