Bernanke Testimony

[DSAbug]

Fed is talking slower growth (sub 2% GDP in 2nd half) and his speech is pretty dovish. Still, people seem to want him to announce QE in his prepared remarks or something. It's bizarre.. He didn't say anything negative at all. Yet, they feel the need to hit gold 10 bucks on the fact bernanke said nothing.

God i hate trading gold during the summer months.

 

[benjamen]

Fed is talking slower growth (sub 2% GDP in 2nd half) and his speech is pretty dovish. Still, people seem to want him to announce QE in his prepared remarks or something. It's bizarre.. He didn't say anything negative at all. Yet, they feel the need to hit gold 10 bucks on the fact bernanke said nothing.

God i hate trading gold during the summer months.

I can not access the speech live, but what ever he is saying seems to be causing the USD to quickly gain strength.

 

[DCFusor]

http://www.bloomberg.com/tv/ has it now, won't work with adblock - you have to turn it off for that page.

 

[benjamen]

http://finance.yahoo.com/news/berna...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

No official QE3 for the U.S. today. This should make for a down day in both the equity and commodity markets.

 

[pmbug]

I'm listening now. He just listed 3 tools the Fed is considering: buying Treasuries/MBS, adjusting rates / discount window, and adjusting IOER.

 

[Penn]

We might need another war.

 

[DSAbug]

The sell off was nonsense. Gold recovered almost all $20 of it's losses before fading about 1/3 of the bounce. The SPY rallied hard.

Honestly, I don't know who was anticipating bernanke to say anything today. That just seems like foolish speculation.

 

[benjamen]

Latest Bernanke speech:
http://thenewamerican.com/economy/m...conomic-model-is-japanese-economic-stagnation

He came out and said he wants to follow what Japan has done and hold interest rates to near zero for many years....

 

[rblong2us]

Better start undermining a few atomic power stations and ensuring the demographic has the majority looking at, or already, retired, to get the true Jap flavour of a successful economy .........

Hard to believe anyone would see Japan as a role model, apart from the model that allows the 'chosen ones' to continue.

Ah yes ! now i see it (-: