"Bernanke will not make a dramatic announcement at Jackson Hole or hint at a major new initiative like Quantitative Easing (QE) as he did in 2010. Rather he will aim to reiterate the message from the minutes of the last FOMC meeting that absent a substantial and sustained improvement in the pace of recovery, the Fed will take further stimulative steps, probably including holding rates lower for longer--perhaps until 2015 - - and moderate additional purchases of treasury securities and mortgages." – John Makin, AEI
In anticipation of Fed Chairman Ben Bernanke’s Jackson Hole speech, American Enterprise Institute (AEI) economist John Makin is available for comment. He has written previously about the Fed, addressing three dangerous myths about monetary policy and writing that the central banks have run out of tricks.
John Makin is a former consultant to the US Treasury Department, the Congressional Budget Office, and the International Monetary Fund and can be reached at [email protected] or through [email protected] (202.862.5883).
Also available for comment:
Economist Kevin Hassett ([email protected]), director of economic policy studies at AEI and former senior economist at the Division of Research and Statistics, Board of Governors of the Federal Reserve System.
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