FOMC Chairman Ben
Bernanke said in his testimony Wednesday that he believed financial
markets were finally getting his message. Specifically that the Fed will continue to stimulate the economy as long as the unemployment rate remains above 6.5% and inflation is under 2%.
It's nothing Bernanke hasn't said
in every speech, comment, press conference or statement for about the
last year. The reason Bernanke feels compelled to make the point again
is that the bond market has started doing it's own thing despite, or perhaps in spite of Bernanke's commitment to keep rates at or near zero percent. (more)
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