Macro CS Fed Ponders Bolder Moves

Macro CS Fed Ponders Bolder Moves - FedPondersBolderMoves...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Fed Ponders Bolder Moves  WSJ 8/28/2010 Bernanke Opens Door to Buying More Securities If Economy Falters Further By  JON HILSENRATH  and  SUDEEP REDDY   Bloomberg  News  Federal Reserve Chairman Ben Bernanke walked with Fed Gov. Donald Kohn on Friday outside  the Jackson Lake Lodge before the opening session of the Kansas City Fed's annual  symposium near Jackson Hole, Wyo. JACKSON HOLE, Wyo.—Federal Reserve Chairman Ben Bernanke opened the door to bolder  steps by the central bank if the economy continues to falter, amid fresh signs that growth has  fizzled in the past few months.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Sudeep Reddy and Neal Lipschutz break down comments today by Federal Reserve Chairman  Ben Bernanke on the U.S. economy and look at what's left in the Fed's arsenal. Plus, Microsoft  Co-Founder Paul Allen Sues Google and others over patents. The remarks—the strongest signal yet that the Fed is ready to bolster growth—cheered  investors, who bid up U.S. stocks.  Speaking Friday to world monetary policymakers gathered in Wyoming, he said "policy options  are available to provide additional stimulus" to the U.S. economy, should it be necessary. The latest sign of trouble for the economy came Friday as the Commerce Department revised  down its estimate for second-quarter growth in gross domestic product. The economy grew only  1.6% in the period, not the 2.4% annual rate previously estimated. Stumbling GDP growth adds to the gloom already created by plunging home sales and other  signs that consumers are shying away from spending. Technology bellwether Intel Corp.  warned Friday its third-quarter revenue could fall short of estimates because of weak demand  for personal computers. Experience WSJ professional Editors' Deep Dive: Central Bank Watch BANGKOK POST Few Details on What's Behind Thailand Interest Rates Nikkei Report Japan's Flat 35 Mortgage Rates To Hit Lows Dow Jones Chinese Financial Wire
Background image of page 2
Malaysia Keeps Key Rate Unchanged Access thousands of business sources not available on the free web.  Learn More All of this drives home a grim political reality for the Obama administration and for Democrats  facing elections this fall: What many had hoped would be a "summer of recovery" is ending on a  dismal note. "The pace of recovery in output and employment has slowed somewhat in recent months," Mr.  Bernanke said in his speech in Wyoming, an annual event hosted by the Kansas City Fed. He  made the case that growth will pick up in 2011, spurred in part by consumers who have shored  up their damaged finances. However, he also made clear the Fed would respond if that forecast 
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/15/2011 for the course ECON 102 taught by Professor Spitz during the Spring '08 term at University of Massachusetts Boston.

Page1 / 8

Macro CS Fed Ponders Bolder Moves - FedPondersBolderMoves...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online