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Federal Reserve chairman Ben Bernanke warned last night that the US economy faced "unusually uncertain" prospects, and said the central bank was ready to take further steps to bolster growth if needed.
Originally posted by cloudbreak
reply to post by PurpleDog UK
Exactly - that is what I too would say it translates to. Quantative Easing Mark II is almost here.
Prepare the paper rolls. Process the cotton fields.
Load up the ink cartridges and man the printing presses.
Fed chief to Congress: Don't end stimulus spending
Testifying before the House Financial Services Committee, Bernanke urged lawmakers to come up with a credible plan to reduce the government's record-high budget deficits in the long run. But he said they shouldn't move now to slash spending or boost taxes in the near future.
Originally posted by SeekerofTruth101
When this puppet Benenke talks, it is the concerns raised by his masters. The masters are uncertain now of what to do, to hold on to their ill begotton gains from taxpayers, or to invest their money again.
All I can say to them is this - its either you despicable ones start sharing the wealth now, or there will be no one left on Earth. Everyone will starve to death, including you rich folks, if you are not murdered for your wealth no matter which bunker you hide in. starving hordes will just seal up your exits and starve you inside as they starve.
Recondsider. Once the Rubicon had been reached, our fates entwined will be sealed. We are not there yet.
US Fed vows to act if jobs market flounders
AFP - Friday, July 23
WASHINGTON (AFP) - – Federal Reserve chairman Ben Bernanke on Thursday vowed he would intervene if US unemployment worsens, amid evidence of a jobless and tepid recovery.
Bernanke, naming unemployment as the most pressing challenge for the US economy, said the Fed will return to crisis-management policies if needed.
"We are ready and will act if the economy does not continue to improve, if we don't see the kind of improvements in the labor market that we are hoping for and expecting," Bernanke told a House of Representatives committee.
His comments came hours after the Labor Department reported 464,000 Americans began claiming unemployment benefits last week, an eight-plus percent rise over the week before.
"Unemployment is the most important problem we have right now," the central banker conceded during a second day of congressional grillings.
"It is incredibly important that we get the unemployment rate down and get people back to work. It's important not just for their sake but for the future of our economy," he said.
Bernanke again outlined Fed measures that could help stimulate growth, including buying new assets and lowering interest rates on bank deposits held by the central bank.
With the recovery from recession slowing, Bernanke underlined the impact of long-term unemployment on sustainable growth.......