Testifying before the Joint Economic Committee this morning, Federal Reserve Chairman Ben Bernanke said he’s ready to act if the economy weakens. But he seems to think specifying how he would act is above his pay grade.
https://twitter.com/zerohedge/status/210732942736101376
Closest Bernanke comes to tipping hand on monetary policy? Boilerplate: Fed ready to do whatever necessary yadda yadda. We await Q&A.
— Caroline Baum (@cabaum1) June 7, 2012
https://twitter.com/LDrogen/status/210733700516814848
https://twitter.com/zerohedge/status/210739475255533568
Maybe he should seek the advice of the confidence fairies.
Confidence fairies? | Bernanke: "Notably, households and businesses still appear quite cautious about the economy"
— James Pethokoukis (@JimPethokoukis) June 7, 2012
But no worries, he has options:
https://twitter.com/zerohedge/status/210740004207603714
He did offer a clue about when he’d be ready to take unspecified actions.
https://twitter.com/MacroScope/status/210739267322912768
But then he slipped in that there isn’t actually much he can do.
Recommended
#Bernanke "my bottom line here is that there is not a whole lot that can be done" – thats verbatim
— Keith McCullough (@KeithMcCullough) June 7, 2012
thats your breaking news – he just said there's not much more he can do
— Keith McCullough (@KeithMcCullough) June 7, 2012
Bernanke looks about as confident as a 1 legged blind man standing over a 24ft breaking putt
— Keith McCullough (@KeithMcCullough) June 7, 2012
At least the U.S. isn’t like Greece.
At least not at 10:41 AM, June 7, 2012 | RT @pdacosta: Bernanke: U.S. is not Greece
— James Pethokoukis (@JimPethokoukis) June 7, 2012
Join the conversation as a VIP Member