Ben Bernanke said when the economy improves they will tighten monetary policy.
My colleagues at the Federal Reserve and I believe that accommodative policies will likely be warranted for an extended period,” Bernanke said at a Board of Governors conference yesterday in Washington, echoing language from last month’s meeting of the Federal Open Market Committee. “At some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road.
In response to just these nebulous sentences on when exactly they would increase the benchmark rate from essentially zero, the dollar rose the most in 2 months.
Bernanke's entire speech is here.
What is almost amusing is how mortgage backed securities (MBS) as well as GSE debt is listed as assets on the Fed's balance sheet.
If you are playing Gold vs. the Dollar, here is a recent survey but before these remarks.
New York Fed has new interactive foreclosure maps
This is pretty cool because you can zero in on any county with just a mouse over.
here.
San Bernardino it's 12.91%.
did you all notice there was no Bank Failure Friday this week?
that's because for a very long time, we did not have bank seizures announce after 5pm on Friday!
Astounding isn't it? Be assured Bank Failure Friday will be back, just this week, the country caught a break.
Calm before the storm?
What social purpose do banks serve now? They are not lending. Their existence, particularly the financial conglomerates are a huge social and economic liability that we just can't afford any more.
BREAK THEM UP!
RebelCapitalist.com - Financial Information for the Rest of Us.
RebelCapitalist.com - Financial Information for the Rest of Us.
I agree, its time to break
I agree, its time to break up the banks