Mary Altaffer / AP Federal Reserve Chairman Ben Bernanke. Posted on 11/08/2007 7:07:58 AM PST by Lazamataz
Federal Reserve Chairman Ben Bernanke said on Thursday the U.S. economy has been resilient in the face of credit market strains but it faces risks on both the growth and inflation fronts.
Mary Altaffer / AP Federal Reserve Chairman Ben Bernanke.
"Financial market volatility and strains have persisted," Bernanke said in testimony prepared for delivery to the congressional Joint Economic Committee. "In addition, further sharp increases in crude oil prices have put renewed upward pressure on inflation and may impose further restraint on economic activity."
Bernanke said that when Fed policy-makers met on Oct. 30-31, they saw both downside risks to economic growth and "important upside risks" to inflation, citing oil and other commodity price increases and a drop in the dollar's value.
You mean the price of Oatmeal finally went up!!!!!!!
Just Damn....you sure you don’t mean menu prices at restaurants is going up??? Ya know you CAN cook meals REAL CHEAP nowadays....sometimes I even stay in and try that myself....I refuse to drink beer at home tho’, so the $3 pitcher days I always look forward to. Now you were saying?
So no need for any further rate cuts, right??
A nation turns its lonely eyes to you......"
Yeah idiots, it's called stagflation and we have been there, done that.
BUMP
Not yet.
Not until the dow and gold meet, anyways.
Any predictions on when and at what price they will meet ?
BUMP
They had to know, but the question is what did you do about it?
Don’t know, but I’ve decided to change my sig.
What in Greenspan’s history makes you state that he’d “fix” it ? After admitting he didn’t see the housing bubble until 2006, the guy is an ass of the first water. I used to like him when he was a buddy of Ayn Rand, but he went over to the dark side with Clinton.
No, our rates are too high to begin with - Greenspan foolishly raised them much too high - There is no reason for capital to have an artificially high cost...simply for the sake of it...
What 3.9% growth this last Qtr does show....Is that it is absolute BS and foolishness for the MSM to be touting our economy is in recession (as they have been virtually non-stop for the past 6 months.....and to some extent for the past 6 years - Simply because GWB/GOP is in office).
ABC Radio just reported on this...only the bad stuff. Didn’t say anything about a pickup in the second quarter of next year.
Perhaps a tax cut is in order to keep the economy healthy?
Naaaaah!!!
Quit screwing with the interest rate just because less that 1% bit off more than they could chew in the housing market.
Yes, I eat, and eat incredibly well at a cost that is damn cheap considering how I can have food at any abundance of which I desire, that is fresh from places all over the world to boot.
That productivity is what has made us the most prosperous nation ever known to man on this earth....And that allows me to taste plenty of deliciousness...
Food prices are up because of energy costs. Energy costs are up because of foolish wrongheaded, outdated Democrat enviro policies......Not because the fundamentals of our current economy are flawed..... The economy in fact has weathered these inflated energy costs very well over the past 4 years...
3.9% gdp growth. Are you saying we could not go negative because we just had a decent quarter? Historic quarterly changes don’t support that.
3.9% growth is better than "decent". It is a damn fine growth rate - And no, I'm not basing that off of one Qtr. But off of six straight years of economic expansion (apprx 24 straight Qtrs of growth)....Of over 4 straight years of solid job growth, not to mention both historically low interest rates and inflation. Did I leave out wages are up, productivity is up......Reality is there are a great number of economic positives.....The MSM (and some others) simply want to ignore them because it doesn't fit their agendas....Be it politically (for the MSM) or because they are "short" on the market (individuals).
Did everyone see what happened when he made the announcement? I noticed the change when viewing the chart at My.yahoo and said to myself, “There must have been a press release”. I went to the news page there and presto, there were the remarks he made.
Man, what power. You say some squishy tripe and markets react dramatically. Amazing.
The market went from down over 200 to plus territory after his speach. But it is looking like many are feeling like they got a reprieve and are now dumping out fast.
America!, where even the very poorest can get fat. (And I'm not being sarcastic)
LOL..You really should do some of you reading in places where the news reflects reality.
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