Bernanke speaks, and the markets listen
Thursday, February 14th, 2008Big Ben opened his big mouth again today, and it seems his outlook on the economy is getting a bit more bearish each time his voice hits the airwaves.
Testifying today at the Senate Banking Committee, he said he now expects “sluggish growth” in the economy but predicted a “somewhat stronger pace” later in the year. He went on to attribute his stronger pace forecast to rate cuts and fiscal stimulus.
He threw in the caveat that housing and labor markets could deteriorate more than anticipated, emphasizing that “downside risks to growth remain.”
It seems that Bernanke is drawing criticism from Washington from both Republicans and Democrats, arguing that the recent efforts …
Loading ...
