SubscribeDaily Futures Commentary August 24, 2009
Monday, August 24, 2009
Now that U.S. Federal Reserve Chairman Bernanke has declared the global economy is beginning to emerge from its worst crisis in generations, the emphasis will be on whether central banks continue to work together to prevent a crisis like this from happening again or if each will take its own path to assure the path to recovery is smooth.
One day after Bernanke said “prospects for a return to growth in the near term appear good”, European Central Bank President Trichet said according to Reuters “now that we see some signs confirming that the real economy is starting to get out of the period of ‘free fall’ — which does not mean at all that we do not have a very bumpy road ahead of us — the largest mistake we could make would be to forget the importance and the urgency of this task.”
At first glance it’s hard to say whether Trichet was agreeing with Bernanke or mildly pointing out that there still are major issues facing the U.S. and the Euro Zone. Both of these comments seem to point out the importance of central banks …
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