On April 27, Ben Bernanke will do something no Fed chief has done before: Stand before journalists two hours after a policy meeting and answer questions about the central bank’s decisions.
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.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Initial Jobless Claims for the week ended Feb 18th totaled 351k, 4k less than expected but the prior week was revised up by 3k to 351k. The 4 week average did fall to 359k from 366k, the lowest since Mar '08. Continuing Claims fell by 52k to the lowest since Aug '08. Also, Extended Benefits fell a net 69k. Bottom line, the data still points to a labor market that continues to improve however lumpy the process feels for many. ...
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April 22nd, 2011 at 2:07 am
And what a confident voice it has been lately… These should be interesting.
April 22nd, 2011 at 2:26 am
Total desperation. Bernanke now has his reputation, his job, and the fate of the entire country inextricably tied to whether or not the S & P rises or falls. Even people who tried to do the safe thing and stay away from the stock market will pay.
The bottom line is he gambled, and lost. According to his own misguided visions he should be a hero right now, unwinding QE2 into a robust recovery. The problem is he spent so much time lying to the public regarding the state of the economy (sub-prime contained) to cover the Fed’s own ass, that he wound up believing his own lies and set policy accordingly.
April 22nd, 2011 at 3:10 pm
can we show up with press passes and pitchforks?
If he wants to make his voice heard he should set interest rates to 10% overnight. That will be a shout and collective backlash that will be heard the world over.
Cue emporer Bernanke
April 22nd, 2011 at 3:10 pm
uhh…emperor