H
Harry Hope
Guest
While he didn't dare predict a recession, Bernanke said the
rate-setting Federal Open Market Committee at its meeting last week
"did not see growth performance as likely to be sustained in the near
term."
He told lawmakers Thursday it could be April before the freeze on the
economy from the mortgage fiasco begins to thaw.
Pretty amazing, given oil prices approaching $100 a barrel, the dollar
falling to record lows (threatening inflation by driving up import
prices), and investment houses like Merrill Lynch and Citibank writing
off billions in mortgage-backed securities.
From Forbes, 11/8/07:
http://www.forbes.com/business/2007/11/08/fed-economy-bernanke-biz-wash-cx_bw_1108fed.html
The U.S. economy is in for a rough winter and a better spring, Federal
Reserve Chairman Ben Bernanke told congress today.
____________________________________________________
Easy for him to say.
Harry
rate-setting Federal Open Market Committee at its meeting last week
"did not see growth performance as likely to be sustained in the near
term."
He told lawmakers Thursday it could be April before the freeze on the
economy from the mortgage fiasco begins to thaw.
Pretty amazing, given oil prices approaching $100 a barrel, the dollar
falling to record lows (threatening inflation by driving up import
prices), and investment houses like Merrill Lynch and Citibank writing
off billions in mortgage-backed securities.
From Forbes, 11/8/07:
http://www.forbes.com/business/2007/11/08/fed-economy-bernanke-biz-wash-cx_bw_1108fed.html
The U.S. economy is in for a rough winter and a better spring, Federal
Reserve Chairman Ben Bernanke told congress today.
____________________________________________________
Easy for him to say.
Harry