Share market advances after bernanke testimony After an hour-long briefing on October 7th in Philadelphia, the Fed's Ben Bernanke defended the agency
Share market advances after bernanke testimony
After an hour-long briefing on October 7th in Philadelphia, the Fed’s Ben Bernanke defended the agency’s decision to keep its benchmark interest rate on hold.
“I’ve been a huge advocate of zero-interest rates on government debt, and zero-interest rates on corporate and government bonds have been very helpful to the global economy,” he said. “Now there’s a very compelling economic argument for doing that to the stock market, and I think the market was quite skeptical of that argument at the beginning. And it certainly got a bit more positive today.”
The Fed said on Wednesday that it was no longer buying financial bonds as part of the program to help fuel the economy.
The Fed bought $4.2 billion worth of Treasurys last week as part of the agency’s so-called QE4 p개츠비 카지노rogram, which is designed to help support the U.S. economy through a combination of asset purchases and low-income loans.
Bernanke noted that Treasury bonds are cheap, so selling them as part of QE4 would be a “tough decision” but would be an “important contribution to the overall economy” of providing more financing for companies and households.
“As we saw at the last QE when the economy was at its most resilient, we wanted to take aggCDC 철도청 카지노ressive actions to help the economy move from a weak to a more robust position,” Bernanke said at a forum with reporters after an economic conference on Thursday. “We want to move the economy into the recovery mode where we can see greater, sustained economic growth and employment in the coming year.”
But with markets jittery ahead of the release, the Fed did not explicitly say whether it would buSM 카지노y more Treasurys in the short term.
It is possible that Bernanke and other Fed officials will take additional steps, such as buying some of the nation’s more costly, risky, and short-dated Treasurys, to provide further financing for companies and the overall economy.
However, Treasury prices on Wednesday traded slightly higher, with the benchmark 10-year note earning just $0.21 less to $10.50 from a year ago, the closest it has been since at least late November, a market tracking site reports.
At press time, prices for the 10-year were down about 50 basis points for the year.
Bernanke added that he wanted to make sure that, “when we come to do other purchases of long