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Live Webcast Of Ben Bernanke Press Conference And Updated Fed Forecasts
Update for those who don't see more easing - bad news:
- BERNANKE SAYS FED PREPARED TO TAKE MORE BALANCE SHEET ACTIONS
- BERNANKE SAYS `THOSE TOOLS REMAIN ON THE TABLE'
One hour ago, the Fed launched on a big stop hunt, sending gold first much lower, then much higher, even as it released no incremental data, but merely confirmed that with every other central bank still "easing" (by which we mean devaluing their currencies of course, most recently seen in India and Brazil, and shortly, in Japan and of course Europe, once again) it can delay injecting cash until after the president is reelected. So with everyone at least superficially pretending there may be a question about ultimate Fed strategy, Ben will take the podium shortly to answer Steve Liesman's and several other fawning 'journalists' questions on what the Fed sees for the future, which in turn will be driven by the just released revised Fed forecasts (see below). Our question is why does the Fed not sell one or more ad spots on its livestream? Each can sell for at least a few millions - the money could then be used to pay down the debt.
And just out from the Fed, the latest revised projections which are totally wrong, and will be revised in another few months depending on what the Russell 2000 does.
- *FOMC: 2012 GROWTH OF 2.4%-2.9% VS 2.2%-2.7% IN JANUARY
- *FOMC: 2013 GROWTH OF 2.7%-3.1% VS 2.8%-3.2% IN JANUARY
- *FOMC: JOBLESS END OF 2012 AT 7.8%-8.0% VS 8.2%-8.5% IN JAN.
- *FOMC: JOBLESS END OF 2013 AT 7.3%-7.7% VS 7.4%-8.1% IN JAN.
- *FOMC: 2012 PCE INFLATION OF 1.9%-2.0% VS 1.4%-1.8% IN JANUARY
- *FOMC: 2013 PCE INFLATION OF 1.6%-2.0% VS 1.4%-2.0% IN JANUARY
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I feel sorry for Eagan-Jones...they are right..but they are going to be put out of business....
Wall St {heart} Bubbles Bernanke!
Maybe the Chairman should take his meds a little earlier in the day. Imminent breakdown was not abated/avoided until after the first dozen lies were spewed. The guy seems to be a nervous trrain-wreck. Are all these Obamanauts like this (thinking of the Solicitor Gen'l)?
So, quick poll, does anyone hero think zero is not really an ultra low rate?
My favorite is the Fund rate would be negative, if possible comment. Rephrased, "We'd just take money outright from people's savings accounts annually if we could."
Ben's discovered a new tool.
COUPONING.
Endless possibilities when his friends get to leave the US with a full shopping cart and paid nothing for it.
He prints for them, you have to accept it.
Seriously, Bernanke needs to stop being Obama's reelection campaign Chairman for Committee to Reelect the President (aka CREEP).
No Surprise From Fed - "Peace in Our Time" Speech (Bernanke Channels Neville Chamberlain)
http://confoundedinterest.wordpress.com/2012/04/25/no-surprise-from-fed-...
"I just want to make it clear to everybody that our policy has been and will always be... that a strong dollar is in our interests as a country, and we will never embrace a strategy of trying to weaken our currency to gain economic advantage at the expense of our trading partners."
U.S. Treasury Secretary Timothy F. Geithner, April 26, 2011
Great news. If I time it right, I'll be able to buy up tons of houses and businesses when it all breaks down with my gold and silver! :)
The days of a boring Fed are over. Politics will increasely infuence the Fed which will result in paper printing. Use these lows to accumulate more PMs.
"More balance sheet action" or "expanding the balance sheet?"
Right... it means more:
Gold & silver bitchez.
Mmm hmm. This is what I think:
2012 apr 25 gold 277 week ROC | goldpricemodel
Whats up with all the dollar bearish sentiment? Has not Bernanke been saying the same thing for six months?