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Federal Reserve Chairman Ben Bernanke Not Worried About Inflation
Federal Reserve Chairman Ben S. Bernanke said yesterday (Wednesday) that he expects inflation to be “quite low for some time,” but that the Federal Open Market Committee will begin publishing its long-term inflation forecasts to promote transparency.
A steep drop in commodities prices has dampened inflation expectations significantly in recent months. But despite declines in consumer and producer prices, the Fed’s monetary base – the amount of total amount of a currency that is either in the hands of the public or in the central bank’s reserves – has expanded by 80% in the past six months.
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Prime cuts of freshly ground US dollars
I want a hippopotamus for Christmas.
Why? Because I’m currently stuck watching our economy. Our disgusting, filthy, disease-ridden, unteachable-and-unwilling-to-learn economy. So, if I’m going to stare at a dirty, fat, dangerous consumption machine, I would at least prefer to have people lined up and paying to see it.
Chopping away at a valuable economic weapon
The Fed cut rates again. The market goes up 359 points. Millions cheer. Only hundreds know what this will actually mean for the economy. I’m not even sure that I’m one of them.
Unfortunately, as far as the rate cut’s apparent influence on the advancement in…
19Dec2008 | Oxbury Research | 0 comments | ContinuedFed Chair Comments Boost Greenback
U.S. Federal Reserve Chairman Ben S. Bernanke came out in support of a stronger U.S. dollar yesterday (Tuesday), indicating the Fed would remain on pause at its next meeting.
Speaking via satellite at the International Monetary Conference in Barcelona, Spain, Bernanke said the Fed is working with the Treasury to “carefully monitor developments in foreign exchange markets.†The Fed Chair said he was aware the effect of the dollar’s decline on inflation and price expectations, Bloomberg News reported.
Also, interest rates are currently “well positioned†to promote both growth and stable prices, he added.
“I can’t recall such a strong defense of the dollar from a…
4Jun2008 | Money Morning | Comments Off | ContinuedHousing Slump Continues…
Housing prices continue to fall in 20 major metropolitan areas, according to the S&P/Case-Shiller home-price index released yesterday (Tuesday).
The index dropped 12.7% in February from a year ago, a bigger drop than was anticipated and the largest decline since the index’s inception in 2001. The index has had back-to-back monthly declines since January 2007 as the United States has suffered through the worst national housing slump in a generation.
“This is just one more strain for consumers, in addition to high energy prices and tight credit,†Michelle Meyer, an economist at Lehman Brothers Holdings Inc. (LEH) in New York, told Bloomberg News.…
30Apr2008 | Money Morning | Comments Off | ContinuedWall Street – Stop Whining for Rate Cuts!
I don’t know about you, but the Wall Street whining has got to stop. They continually beg for interest rate cuts only to punish the market when the Federal Reserve Chairman, Ben Bernanke, finally taps out and gives into their demands.
What’s worse is that expectations for another cut are just around the corner. I know I’ve said this a million times, but we are on an unsustainable path here. Cheap credit is what got us into this subprime mess in the first place. Handing out a quick fix stimulus package is not going to solve our problems either.
So,…
29Jan2008 | S. Oakes | Comments Off | ContinuedEconomic Armageddon?
The current economic environment is downright awful. Our Fed. Chairman, Ben Bernanke is tripping at the pump in an attempt to juice up the economy. Unfortunately, there’s only so much he can do. Lowering the interest rate to 3.5% doesn’t leave much room for additional stimulus in the future.
We could learn a few lessons from Japan’s struggle to get the train moving again. The Japanese lowered their rate all the way to 0.0% and they’re just sitting ducks trapped in a corner. Now, I do realize that there are other factors involved with their unique dilemma – one being…
22Jan2008 | S. Oakes | Comments Off | Continued
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