Bernanke Offers No Clues About Possible Rate Cut

Bernanke Offers No Clues About Possible Rate Cut

www.cnbc.com

Federal Reserve Chairman Ben Bernanke said the U.S. and other countries must work together to correct the global imbalance of trade and investment, offering no clue about whether the central bank will cut rates at its Sept. 18 meeting.

As for prospects of fixing the problem, Bernanke said, "Signs of progress have appeared but ... most countries have only just begun to undertake the policy changes that will ultimately be needed." He spoke at a conference in Berlin.

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Watching CNBC now.

Pundits reckoning their will be no cut, Bernanke will not bail out the markets. One went as far as saying he doesn't "give a damn about the stock market"

Pretty strong words.

Speculation for a cut are starting to drop.

www.cnbc.com
(visit the link for the full news article)

Cut the rates... the dollar plunge. Keep the rates, the stock market plunge... decide which you want to sacrifice. So?

Stock market: only those investing in the market will lose in the short term, but in the long term this will affect the dollar...
Dollar: dropping dollar = less importations, higher prices.

Anyway when all this crap explode, the dollar will collapse and the US inflation will be over 20%.