Where is Obama’s hope and change? Fed Offers Bleak Economic Outlook
[Via NYTimes] The chairman of the Federal Reserve, Ben S. Bernanke, vowed on Wednesday to do whatever it took to pull the economy out of its downward spiral, even as he acknowledged that the most recent indicators were “dismal.”
Speaking at the National Press Club, the first time that a Fed chairman has taken questions from journalists in a public forum, Mr. Bernanke defended the central bank’s efforts and tried to allay concerns that it had been printing money at a dangerous
pace.
“The Federal Reserve has done, and will continue to do, everything possible within the limits of its authority to assist in restoring our nation to financial stability,” he said.
Mr. Bernanke made it clear that he supported a stimulus package of increased spending and tax cuts, though he declined to comment on the particulars of the measure signed on Tuesday by President Obama or on Mr. Obama’s plan to reduce the rising tide of home foreclosures.
He also warned that the unemployment rate, which reached 7.6 percent last month, would climb to 8 percent “for sure.” Indeed, the central bank released a separate report soon afterward showing that Fed policy makers had become considerably more pessimistic about the economy’s prospects for this year.
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I have read different comments, that I believe are Republican comments on the economy. My question is this: Where were your ideas, and solutions when George Bush, and you were in charge? All I heard was the economy was great!
You have not come forth to say you screwed things and up and want to help get us out of this mess. You critize, and continue to talk against proposed solutions, when you were in charge I haven’t found any solutions, not even recognition of the problem. I am a tax payer, and a home owner. Prior to “W” and you my investments were doing great.
A quarter of a Million Dollars great! The Market started to go south once you and “W” were in power.
i become a part of the solution.
country as you try to potray. If I lied about weapons of
of mass destruction, and screwed up the economy, I would ask
for forgiveness, and change.