Martin Lee @ Sg
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Ben Bernanke Grilled at Capital Hil

Here are some comments by Ben Bernanke on the current economic situation.

The economy is showing tentative signs of stabilisation. A levelling out of economic activity is the first step toward recovery.

However, he cautioned that we will not have a sustainable recovery without a stabilisation of our financial system and credit markets. Mounting unemployment, declining home values and tight credit are also likely to curb consumer spending.

Limited inflation pressures will allow policy makers to keep interest rates near zero for an extended period. While some rescue measures may have to be removed in future to curb an expected rise in inflation, he said the time had not yet come and the Fed was exploring an expansion of the types of credit made available through its programme to restart securitization markets.

A potential wave of defaults in commercial real estate may present a “difficult” challenge for the economy.

This article posted at WSJ shows The Fed’s various options to tighten monetary policy (to control inflation) when the economy ultimately recovers.

Here are some videos of Bernanke and some intense questioning by Ron Paul and Alan Grayson. Not forgetting one by Peter Schiff.

Video of Ben Bernanke Opening Statement at Capital Hill

Ron Paul Questions Ben Bernanke on the Definition of Inflation

Congressman Alan Grayson Grills Benanke on the Missing Half a Trillion Dollars that Benanke has no answer to!

Peter Schiff on the Fed’s Exit Strategy

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1 comment
Norman T says 10 years ago

If people know and understand that the Federal Reserve is actually a private entity owned by a group of very powerful private bankers, and that the Fed is not under any control from the US govt nor accountable to the US citizens, people will understand why the US and global economy is in such a state.

Here’s a link to a documentary that will help you understand the whole picture:

America: Freedom to Fascism – by late director Aaron Russo

http://video.google.com/videoplay?docid=-1656880303867390173

Be enlightened.

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