Bernanke

Forex News: Treasury Paulson/ FOMC Bernanke comments on Capitol Hill

Greg Michalowski — Tue, 18 Nov 2008 10:26:10 -0500

Paulson key comments:

WILL TAKE A LOT OF WORK TO REVIVE THE ECONOMY
WE'VE TURNED THE CORNER STABILIZING MARKETS
WILL KEEP LOOKING FOR WAYS TO EASE FORECLOSURES
AIG WOULD HAVE FAILED WITHOUT FED STEPPING IN
WORKING HARD TO PREVENT WINDFALL FOR BANKS
HAS NOT SAID `NO'' TO MORTGAGE HELP IN TARP
TARP HAS BROAD DEFINITION OF FINANCIAL FIRMS BUT AUTO COMPANIES FALL OUTSIDE OF THAT DEFINITION
WE NEED TO DO A LOT MORE TO PREVENT FORECLOSURE
PREMATURE TO START ANOTHER TARP CAPITAL PROGRAM
DEFINITELY CAPITAL AVAILABLE FOR SOME FIRMS
NO DECISIONS MADE ON OTHER USES FOR TARP
NOT SURPRISING TO SEE GOOD NUMBER FORECLOSURES

Bernanke key comments:

HE SEES NO SIGNIFICANT CREDIT RISK IN FED POLICY
NEEDS TO DO WHAT'S NEEDED TO KEEP SYSTEM VIABLE
OVERWHELMING AMOUNT OF FED LENDING QUITE SAFE
AIG RESCUE IS TO AVOID CONTAGION OF LOSSES
CURRENT ACCOUNT IMBALANCES VERY SERIOUS ISSUE
DOLLAR REMAINS THE PREMIER CURRENCY
FORECLOSURES A SYMPTOM AND A CAUSE OF CRISIS

Forex News: Bernanke comments from House prepared remarks

Greg Michalowski — Tue, 18 Nov 2008 09:33:07 -0500

SEES SOME SIGNS CREDIT MARKETS ARE IMPROVING
BANKS SHOULD REVIEW COMPENSATION TO CURB RISK TAKING
BANKS SHOULD SET APPROPRIATE DIVIDEND POLICIES
INJECTION OF TARP CAPITAL CRITICAL TO CONFIDENCE
SAYS CREDIT CONDITIONS STILL FAR FROM NORMAL

Forex Trading News: Fed's Bernanke

Mr. Danish FX — Tue, 14 Oct 2008 00:24:33 -0400

Fed Chairman Bernanke in a WSJ Editorial: Challenges are "extraordinarily complex"; Response to crisis will continue to evolve

- Time has come for a broad-based solution.
- Notes measures to be announced Tuesday will help restore further normal market functioning
- Reiterates call for comprehensive regulatory review
- Says US bailout plan addresses difficult financial market challenges

Forex New: Bernanke Q and A session begins

Greg Michalowski — Tue, 07 Oct 2008 13:34:54 -0400

REASON TO THINK INFLATION TO MODERATE SIGNIFICANTLY
GENERALLY SPEAKING INFLATION SEEMS BETTER
CAN'T DECLARE VICTORY ON INFLATION GIVEN THE VOLATILITY OF COMMODITIES

Forex News: Bernanke speaking now...

Greg Michalowski — Tue, 07 Oct 2008 13:12:30 -0400

All tools will be utilized to help stability.
The Fed will consider whether current monetary policy is appropriate

He is going through a history of the credit crisis. Nothing new here. The market is reacting directly to the ups and downs of the Dow. Currently, if the Dow rises, the EURUSD rises. If the Dow falls, the EURUSD falls.

Forex News: Stock move lower, drag EURUSD down before Bernanke at 1:15 PM EDT

Greg Michalowski — Tue, 07 Oct 2008 12:48:30 -0400

The US stocks have moved lower - now down nearly 200 points. This has dragged down the EURUSD below intraday support at the 1.3619-1.3623 level. Bernanke is to speak at 1;15 PM today.

The market was appeased briefly by the Commercial Paper action today but the positive from the move has since faded away.

Forex News:Bernanke comments on the current crisis

Greg Michalowski — Tue, 23 Sep 2008 12:08:05 -0400

HOUSING MARKET WON'T RECOVER IF CREDIT NOT THERE
WOULD SUPPORT FURTHER ACTION TO HELP HOUSING
WARNS ECONOMY WILL CONTRACT IF MARKETS DON'T RECOVER
MOST IF NOT ALL OF VALUE MAY BE RECOVERED IN TIME
TAXPAYER MAY GET GOOD VALUE FOR MONEY
PAULSON PLAN ISN'T EXPENDITURE OF $700 BLN
SEES MAJOR DRAG ON ECONOMY WITHOUT RESCUE PLAN
MARKETS NOT SERVING NECESSARY FUNCTIONS FOR ECONOMY
HOLD TO MATURITY PRICES WOULD PROTECT TAXPAYER
URGES TREASURY BUY AT `HOLD-TO-MATURITY' PRICES
SAYS MARK-TO-MARKET SUSPENSION WOULD HURT CONFIDENCE
SAYS `O ACTIVE MARKET FOR SOME TYPES OF SECURITIES

Analysis: The Hold to Maturity price is a nice concept but how this is all imp

Forex Trading: Markets get volatile on Bernanke comments

Greg Michalowski — Mon, 09 Jun 2008 20:26:07 -0400

The USDJPY has broken above the 106.42 level and squeezed higher. The EURUSD is back below the 1.5600 level. EURUSD approaches good support at the 1.5578 and 1.5563 level where the 100 and 200 hour moving averages are situated.

The comments were not particularly dollar bullish but the market is interpreting them that way for now.

Forex News: Bernanke comments in the WSJ

Greg Michalowski — Mon, 09 Jun 2008 19:57:50 -0400

The jobless jump in May will not influence the rate outlook going forward. This is reported in the WSJ.

The likelihood of a serious recession has fallen.

Growth risks remain to the downside.

The thought is the Fed is unlikely to raise rates in the near future.

Activity in current quarter likely to be weak.
Current headwinds offset by recent rate cuts
Stimulus package provides support
Less downside from housing
Inflation has remained high reflecting increase in global commodity prices.

Forex News: FXDD Special Report on Bernanke's Change of Heart on the US Dollar

Greg Michalowski — Wed, 04 Jun 2008 07:34:47 -0400

Chairman Bernanke's comments on the US dollar yesterday reflected a change in heart on the Fed's position on the US dollar. To print out the article, click on the PDF attachment at the bottom of the report.

Forex Analysis: The Fed's Change of Heart on the Dollar