Bernanke says nothing new on economy, talks on budget

By Peter Boockvar - June 9th, 2010, 10:36AM

On the heels of his comments on the economy Monday night, Bernanke didn’t reveal anything new on his economic outlook. His cautious optimism hints at a continuation of the Fed’s extraordinarily easy policy with Fed Pres Hoenig the only voting member of the 10 who believes this is bad policy. Part of today’s Bernanke testimony is his comments on the US Federal Budget and saying that it’s on an “unsustainable path” is stating the obvious to all except those in DC. He does say that what Europe is experiencing right now shows the importance of the US government getting its act together. He believes the issues Europe faces right now will likely have only a modest impact on the US IF markets stabilize and the Fed will pay close attention. He said it’s a positive that the US Treasury market is seen as a safe haven as its helped to lower interest rates. What he doesn’t say is that US Treasuries are just a nicer house in a bad neighborhood.

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Category: Think Tank.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “Bernanke says nothing new on economy, talks on budget”

call me ahab Says:
June 9th, 2010 at 10:56 am
what of this-

US Focus Turns to Cutting Deficit, Not Stimulus- CNBC

Keynesian it is not
VennData Says:
June 9th, 2010 at 11:06 am
Obama’s 18-member National Commission on Fiscal Responsibility got nary a vote of support from the Congressional GOP, even the ones who originally were involved.

If you want to know where the problem is, it’s the GOP that left Obama with a trillion dollar deficit with their irresponsible tax cuts, whose “give me back my money” morons all bought and sold real estate and modern art to each other.

Let’s get back to long term investing and dump the GOP short termism.

America’s back, thanks to Obama, Geithner, Bernanke and the grown ups who run things now.
call me ahab Says:
June 9th, 2010 at 11:30 am
VD-

America’s back, thanks to Obama, Geithner, Bernanke and the grown ups who run things now.

hahahahahahahaha

probably the dumbest thing I ever heard- especially Geithner- please- dude looks like he belongs in pre-school
cvienne Says:
June 9th, 2010 at 11:54 am
@VD

Bernanke?

As in “Why Are We Still Listening To This Guy”? Bernanke?

http://www.youtube.com/watch?v=HQ79Pt2GNJo
karen Says:
June 9th, 2010 at 12:41 pm
all you need to know:

Bernanke says not to expect a double dip recession… Hence, expect one.

and

Bernanke on the state of the economy. (Hat tip Cvienne)
b_thunder Says:
June 9th, 2010 at 2:29 pm
If Ben keeps publicly proclaiming that Congress should not interfere with Fed’s monetary policy, why the F*&*# he keeps sticking his nose into the fiscal and budgetary issues? That’s what Greenspan used to do when everyone thought he knew what he was talking about. No we know that he had no clue.

When will someone in the Congress (Ron Paul – where are you?) tell Ben that if wants to be “independent” from Congress, the lest he can do is to strictly stick to what he’s in charge of (i.e. monetary policy) and STFU regarding the stuff that the Congress is in charge of?