Fed’s Bernanke says that nobody really understands gold prices July 18, 2013 The Federal Reserve's Ben Bernanke has said that "nobody really understands gold prices and I don't pretend to understand them either" when asked by a member of Congress about the recent fall in the price tag of the precious metal. Bernanke said that a fall in the price of gold is not necessarily a thing, [...]
Fed’s Bernanke stresses that monetary policy has limitations July 18, 2013 Federal Reserve chairman Ben Bernanke has that "monetary policy is not a panacea" when it comes to low growth and high unemployment, and that "there is still room for congress to address these problems". "It's not my place or the federal reserve's place to force Congress to come to any particular outcome" — Ben Bernanke, [...]
US inital jobless claims drop by 26,000 as continuing claims rise July 18, 2013 US initial jobless claims have dropped from 360,000 to 334,000 in the week to 13 July, a drop that exceeded what economists were expecting. Analysts had predicted a fall to 345,000. Weird blip with the continuing jobless claims though, which were up from 3.0323m (revised from 2.977m) to 3.114m. These jobs numbers have a special [...]
Before the open – 18/07 July 18, 2013 Chinese shares fell last night amid ongoing concerns that the government will extend property curbs and reduce the finance available to developers continued to weigh on Chinese markets. However, sentiment was boosted somewhat by US Federal Reserve chairman Ben Bernanke’s comments yesterday indicated he will remain dovish on monetary policy and that asset purchases “are [...]
Money printing set to continue July 17, 2013 US MONEY printing could continue apace into next year after Fed chairman Ben Bernanke last night hinted that he might wait longer than previously expected before slowing down the pace of its quantitative easing programme. Markets rose gently on the speech, as The Fed boss tried to calm traders. “A highly accommodative monetary policy will [...]
FTSE lifted as miners report robust output July 17, 2013 BRITAIN’S FTSE 100 rose yesterday, with miners cheered by a string of solid output numbers from the likes of BHP Billiton, and with the US Federal Reserve reassuring that stimulus will only be cut if the economy is strong. Fed chairman Ben Bernanke signalled plans to start scaling back bond purchases this year could be [...]
Stocks edge up on Bernanke’s QE assurances July 17, 2013 US stocks ended modestly higher yesterday after Federal Reserve chairman Ben Bernanke said the timeline for winding down the organisation’s stimulus programme was not set in stone. Shares of Bank of America and Yahoo rose after both companies reported stronger-than-expected quarterly results. Both ranked among the names giving the biggest boost to the S&P 500. [...]
Bernanke claims that Fed’s policies are helping main street more than Wall Street July 17, 2013 Federal Reserve chairman Ben Bernanke has said that main street is doing better than Wall Street, when challenged on what the central banker is doing for the real economy. Bernanke said that the Fed is very focused on main street, and is trying to create jobs and make housing affordable, and that low rates created [...]
Bernanke says Fed may taper QE in 2013 but monetary policy is not on a preset course July 17, 2013 Federal Reserve chairman Ben Bernanke has said in prepared testimony that the Fed may taper quantitative easing (QE) – reducing the rate of expansion of the Fed's balance sheet – in 2013, and halt QE altogether around mid-2014. Crucially, Bernanke said that monetary policy is not on a "preset course": I emphasize that, because our [...]
Waiting for Bernanke: Analyst expectations July 17, 2013 Ishaq Siddiqi, market strategist, ETX Capital: Fed chairman Bernanke’s testimony to US Congress turning out to be the key-risk event over the next two session, prompting both the bulls and bears to avoid building too much risk exposure. Stocks on Wall Street fell on Tuesday and Asian markets were mixed in overnight trade giving European [...]