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Bernanke: Further Action Will Be Taken To Stimulate The Economy.

2011/8/27 9:01:00 38

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Bernanke'S Action To Stimulate The Economy

Today, the world is held in Wyoming.

Central Bank

At the annual meeting, Ben Bernanke, the chairman of the Federal Reserve, said in a speech that the Fed was always prepared to take further measures to stimulate the growth of the weak economy, but did not say that the Fed would take any new measures immediately.

At the annual global central bank annual meeting, Bernanke's speech was widely anticipated, but Bernanke did not elaborate on what measures the Fed would take to promote the growth of the US economy.

On the contrary, Bernanke said the Fed will extend its policy meeting in mid 9 to two days to discuss the next move of the Fed.

Bernanke said, "the Federal Reserve Policy Committee will continue to make new data on the United States.

Economics

We will assess the prospects and prepare to use appropriate policy tools to promote the recovery of the US economy on the premise of price stability. "

The latest data released on the 26 day show again that the US economy is in a predicament.

The US Department of Commerce has lowered its valuation for the second quarter of GDP.

Before the US business evaluation of the second quarter GDP increased by 1.3%, adjusted only 1%.

In the first quarter of this year, the US GDP grew by only 0.4%.

Bernanke said that the recovery of the US economy has now lasted for more than two and a half years, but the recovery rate is still very slow.

He acknowledged that the current US economy is not as fast as the Fed expects.

But he remains optimistic about the long-term outlook, saying that the US economy has never been damaged by the financial crisis for a long time.

Bernanke pointed out that the banking sector in the United States is in a better position, and that the manufacturing industry has increased by 15% compared with the underestimation, and the residents have also improved their balance sheets.

But he pointed out that financial pressure will remain the biggest drag on economic recovery in the United States and other countries.

A series of weak economic data released recently exacerbated the two economy.

decline

The worry is that investors hope that Bernanke can open a new round of monetary stimulus at the annual meeting of the Kansas City fed in September.

A year ago, in his Jackson Hole speech, Bernanke revealed that the Federal Reserve would implement the second round of bond buying plan and finally put it into effect in November 2010.

However, the change of the economic environment, especially the rise of inflation, forced Bernanke to think more carefully about the third round of quantitative easing plan, that is, QE3.

Although the US economy is still weak, some inflation indicators are still higher than the informal target level of the Federal Reserve of 2%.

Bernanke said he expects inflation to return or below 2% as oil and other international commodity prices stabilize.

He said that the Fed's policy can not affect the long-term trend of the US economy, and hope that the US Congress can make up for the budget deficit without hindering economic growth, and that the United States needs a better financial decision-making process.

For more than a year, Bernanke has been hoping that Congress will be able to provide a short-term stimulus to the US economy by making use of the government's tax and spending policies while formulating reliable long-term plans for deficit reduction.