Fed’s Bernanke on the Newswires

Written July 21, 2010 at 2:07 PM EST by  

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  • says:
  • risks to growth are weighted to the downside
  • economic outlook remains unusually uncertain
  • fed continues planning for withdrawing accommodation
  • speaks to senate banking panel in semiannual testimony
  • asset sale decision to hinge on employment, inflation
  • fed over long term to cut assets to more normal size
  • reiterates rates to stay low for ‘extended period’
  • fed sees continued moderate growth over several years
  • fed prepared to take more policy actions ‘as needed’
  • significant time needed to recover 8.5 million lost jobs
  • fed expects ‘gradual decline’ in unemployment rate
  • fed sees ‘subdued inflation’ over next several years
  • recent financial markets ‘less supportive for growth
  • Bernanke says U.S banking system has improved significantly
  • fed prepared to act as needed to aid U.S. growth

One Response to “Fed’s Bernanke on the Newswires”

  1. Ernest Koncaba on July 21st, 2010 2:12 pm

    Looks like he did a lot of talking without saying anything. Sounds like he is covering his backside (…with both hands.)

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