Our Awful Situation

Archive for the ‘Ben Bernanke’ Category

Fed Chief Gives Gloomier Outlook On US Economy

Posted by Charlie Kilo on July 15th, 2008

Its just the beginning, Ben. But you already knew that:

A weakening housing market, a strained banking system, and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Federal Reserve Chairman Ben Bernanke said on Tuesday.

It was a gloomier assessment than the central bank’s policy-setting panel gave in late June, when it said risks to economic growth had diminished somewhat.

Ben Bernanke

Bernanke, in his semi-annual testimony on economic conditions to lawmakers Tuesday, acknowledged that financial markets had grown increasingly anxious in recent weeks, particularly over the financial condition of mortgage finance companies Fannie Mae and Freddie Mac.

He stressed that the outlook for economic growth and inflation was unusually uncertain.

Bad times get worse for Ben

Posted by Charlie Kilo on June 9th, 2008

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