gunDriller
21st July 2010, 01:21 PM
"Bernanke says Fed to act if soft recovery falters"
On Wednesday July 21, 2010, 2:19 pm EDT
By Pedro da Costa and Glenn Somerville
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy faces "unusually uncertain" prospects, and that the central bank was ready to take further steps to bolster growth if needed.
"Even as the Federal Reserve continues prudent planning for the ultimate withdrawal of monetary policy accommodation, we also recognize that the economic outlook remains unusually uncertain," Bernanke told the Senate Banking Committee.
"We remain prepared to take further policy actions as needed to foster a return to full utilization of our nation's productive potential in a context of price stability."
I will spare you the rest of his Yada Yada, but, I mean, what are they going to do ?
The only thing they can do is print money, electronically.
I am missing something. I do not see anything they can do !
What can they do - start auctioning off national parks to America's billionaire's ? Maybe Larry Ellison would pay $1 Billion for Alcatraz.
But that would only finance the gov. for a few minutes. It would not even forestall the problem until after lunch-time.
On Wednesday July 21, 2010, 2:19 pm EDT
By Pedro da Costa and Glenn Somerville
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy faces "unusually uncertain" prospects, and that the central bank was ready to take further steps to bolster growth if needed.
"Even as the Federal Reserve continues prudent planning for the ultimate withdrawal of monetary policy accommodation, we also recognize that the economic outlook remains unusually uncertain," Bernanke told the Senate Banking Committee.
"We remain prepared to take further policy actions as needed to foster a return to full utilization of our nation's productive potential in a context of price stability."
I will spare you the rest of his Yada Yada, but, I mean, what are they going to do ?
The only thing they can do is print money, electronically.
I am missing something. I do not see anything they can do !
What can they do - start auctioning off national parks to America's billionaire's ? Maybe Larry Ellison would pay $1 Billion for Alcatraz.
But that would only finance the gov. for a few minutes. It would not even forestall the problem until after lunch-time.