The Bankwatch

Tracking the consumer evolution of financial services

Posts Tagged ‘bernanke

Bernanke is concerned about budget deficits


Fed Chairman Bernanke picks his words carefully here as the US treads that line between economic recovery and much higher interest rates which would produce other unintended consequences such as stifling growth, currency value shifts or inflation.

Bernanke calls for action on deficits | FT

Ben Bernanke on Wednesday called on Congress to take action now to bring down long term US budget deficits, warning that the bond market was concerned about rising US government debt.

The Federal Reserve chairman said the recent increases in bond yields “appear to reflect concern about large federal deficits” as well as improved optimism about the economy and other factors.

Here is the full testimony before the Committee on the Budget, U.S. House of Representatives, Washington, D.C. June 3, 2009

More analysis here.

Relevance to Bankwatch:

As plans are made, these are additional data points and views that point to a much different 2 – 5 years upcoming than we have experienced.

Written by Colin Henderson

June 3, 2009 at 12:17

Posted in economy, US

Tagged with , , ,

We came very close to a global financial meltdown | Bernanke


Just caught this during Bernanke testimony to the House Finance Committe.  Rep. Kanjorski asked Bernanke to confirm the events of Sept 18th (refer video below) following tghe collapse of Lehmans and the impact on the world financial system.

Bernanke responded (quote):

“… the actions we (Bernanke/ Paulson) took averted the collapse of the global financial system.  We came very close to a global financial meltdown”

Tracking the evolution of financial institutions? Sep 18th 2008 | Russian Missile Crisis – banking crisis version

Written by Colin Henderson

February 25, 2009 at 11:17

Posted in economy

Tagged with

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