Thursday, November 22, 2012
Fed Chairman Ben Bernanke's Speech On The Economic Outlook And Fed Policy
The Fed Chairman's recent speech in New York provides a good summary of our slow recovery from the financial crisis, and some of the headwinds that we continue to face. He described the Fed's policies during the recovery and he argued that they have accomplished what was intended. His major concern was about fiscal policy. Congress has to deal appropriately with the fiscal cliff in order to keep the economy out of recession, and it has to deal with longer term issues of fiscal balance. The Fed expects to keep interest rates lower than normal through mid 2015.