AEI's Fed watchers react to Bernanke's testimony

Reuters

US Federal Reserve Chairman Ben Bernanke listens to opening remarks prior to delivering his semi-annual monetary policy report to Congress before the House Financial Services Committee in Washington, July 17, 2013.

• “Chairman Bernanke’s prepared testimony broke no new ground. The Fed’s next move continues to be entirely data-dependent. If the economy evolves as the Fed has forecast, look for the tapering of QE purchases to begin in September.” Steve Oliner, former senior Fed official.

• “Chairman Bernanke’s dovish written testimony for the Humphrey-Hawkins hearings on the economy and Fed policy aims to make three points: tapering (less bond purchases/QE by the Fed) is not tightening; when tapering occurs depends on the economy; and zero interest rate policy, ZIRP, will continue for an extended period, probably until late 2015.” John Makin, Wall Street chief economist for 20+ years.

• “As expected, Bernanke continues to try to repair the market damage that he did earlier in the month by providing specific dates for an exit from QE3. One must welcome his now emphasizing the more appropriate policy line that the exit from QE3 will be strictly conditions based.” Desmond Lachman, former managing director, Salomon Smith Barney.

Check out @AEIecon for real-time scholar reactions to Bernanke’s testimony before the House Financial Services Committee beginning at 10 AM. On Thursday, he’ll testify before the Senate Banking Committee.

Check out AEI’s work on the Federal Reserve, QE, and Bernanke here.

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Abby
McCloskey

What's new on AEI

Holder will regret his refusal to obey the Constitution
image 'Flood Wall Street' climate protesters take aim at their corporate allies
image 3 opportunities for better US-India defense ties
image Is Nicolás Maduro Latin America's new man at the United Nations?
AEI on Facebook
Events Calendar
  • 29
    MON
  • 30
    TUE
  • 01
    WED
  • 02
    THU
  • 03
    FRI
Thursday, October 02, 2014 | 9:00 a.m. – 10:30 a.m.
Campbell Brown talks teacher tenure

We welcome you to join us as Brown shares her perspective on the role of the courts in seeking educational justice and advocating for continued reform.

Event Registration is Closed
Friday, October 03, 2014 | 12:00 p.m. – 1:00 p.m.
Harnessing the power of markets to tackle global poverty: A conversation with Jacqueline Novogratz

AEI welcomes you to this Philanthropic Freedom Project event, in which Novogratz will describe her work investing in early-stage enterprises, what she has learned at the helm of Acumen, and the role entrepreneurship can play in the fight against global poverty.

No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.