Ben Bernanke’s April 25, 2012 Press Conference – Notable Aspects

On Wednesday, April 25, Ben Bernanke gave his scheduled press conference.

Here are Ben Bernanke’s comments I found most notable, in the order they appear in the transcript, although I don’t necessarily agree with them.  These comments are excerpted from the “Transcript of Chairman Bernanke’s Press Conference“(preliminary)(pdf) of April 25, 2012, with accompanying economic projections (pdf).

Bernanke’s responses as indicated to the various questions:

Thank you Mr. Chairman, Darren Gersh, Nightly Business Report: Some of your critics, I’m sure you’re not going to be surprised think that you’re still being too cautious that unemployment is still high, the economy may be slowing, inflation is subdued, but I know you just talked about the balance sheet. But given that, is the Committee now any closer to QE3 than it was at its last meeting?

Chairman Bernanke: Well first, the Committee has certainly been bold and aggressive in terms of easing monetary policy. We’ve maintained the Federal Funds Rate close to zero since late 2008. We’ve had two rounds of so-called quantitative easing. We’ve had a Maturity Extension Program which is ongoing. We have offered a guidance about the Federal Funds Rate that goes into at least late 2014. So we had been very accommodative and we remained prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target. So in particular, we will continue to assess, you
know, looking at the economic outlook, looking at the risk, whether or not unemployment is making sufficient progress towards this longer run, normal level, and whether inflation is remaining close to target.  And if appropriate and depending also on assessment of the costs and risks of additional policy actions, we are–remained entirely prepared to take additional balance sheet actions if necessary to achieve our objectives. So those tools remain very much on the table and we will not hesitate to use them should the economy require that additional support.

Read moreBen Bernanke’s April 25, 2012 Press Conference – Notable Aspects

Ben Bernanke’s January 25, 2012 Press Conference – Notable Aspects

On Wednesday, January 25, Ben Bernanke gave his scheduled press conference. Here are Ben Bernanke’s comments I found most notable, although I don’t necessarily agree with them.  These comments are excerpted from the “Transcript of Chairman Bernanke’s Press Conference“(preliminary)(pdf) of January 25, 2012, with accompanying economic projections (pdf). Bernanke’s responses as indicated to the various … Read more Ben Bernanke’s January 25, 2012 Press Conference – Notable Aspects

Ben Bernanke’s November 2 Press Conference – Notable Aspects

On Wednesday November 2 Ben Bernanke gave his scheduled Press Conference. Here are Ben Bernanke’s comments I found most notable, although I don’t necessarily agree with them.  These comments are excerpted from the “Transcript of Chairman Bernanke’s Press Conference” of November 2 2011 (preliminary) (pdf), with Bernanke’s responses as indicated to the various questions: from page 4 (Opening … Read more Ben Bernanke’s November 2 Press Conference – Notable Aspects

Ben Bernanke’s Jackson Hole Speech – Notable Excerpts

On Friday August 26 Ben Bernanke gave a speech at Jackson Hole titled “The Near- and Longer-Term  Prospects for the U.S. Economy.” I do not agree with various comments in the speech.  However, here are a few excerpts that I found most noteworthy: As I will discuss, although important problems certainly exist, the growth fundamentals … Read more Ben Bernanke’s Jackson Hole Speech – Notable Excerpts

Ben Bernanke’s Prepared Testimony July 13 – Notable Excerpts

Yesterday Ben Bernanke gave his testimony before the Committee on Financial Services as part of the Semiannual Monetary Policy Report to the Congress. His prepared testimony didn’t seem to contain content significantly different from that he has previously stated. However, in my opinion, his prepared testimony does serve as a convenient collection of various of … Read more Ben Bernanke’s Prepared Testimony July 13 – Notable Excerpts

Ben Bernanke’s June 22 Press Conference – Notable Aspects

On Wednesday June 22 Ben Bernanke gave his scheduled Press Conference.  Overall, I found his remarks less notable than that of his April 27 Press Conference, which I commented upon in the April 28 post titled “Ben Bernanke’s April 27 Press Conference – My Comments.” Here are Ben Bernanke’s comments I found most notable, although … Read more Ben Bernanke’s June 22 Press Conference – Notable Aspects

Ben Bernanke’s April 27 Press Conference – My Comments

Yesterday, Ben Bernanke gave his scheduled Press Conference. While there were few, if any, disclosures that would be considered “new,” I did feel as if many of his comments were notable.  While I could comment extensively upon his remarks of yesterday – as I partially or fully disagree with many of them – I will … Read more Ben Bernanke’s April 27 Press Conference – My Comments

A Look Back – Bernanke’s “Lessons from History” Speech

One year ago, Ben Bernanke presented a speech titled “Economic Policy: Lessons from History.” I view this speech as highly noteworthy – epochal, even – especially in relation to the efforts made to “bring the economy back” from the depths of the Financial Crisis. Here are some excerpts that I find particularly relevant: “I draw … Read more A Look Back – Bernanke’s “Lessons from History” Speech

“Don’t Fight The Fed” & Related Phrases

“Don’t fight the Fed” is a phrase that has been in existence for decades, and has been heard often, especially lately. Other related phrases heard include “the Fed’s got your back.”  And, of course, “the Bernanke Put” and, while Greenspan was Federal Reserve Chairman, “the Greenspan Put.”  Many of these phrases seem related to the … Read more “Don’t Fight The Fed” & Related Phrases