Ben Bernanke spoke to the Economic Club of New York today. The full text of the speech can be found here, but I’d like to highlight the last two paragraphs:
The outlook for inflation is also subject to a number of crosscurrents. Many factors affect inflation, including slack in resource utilization, inflation expectations, exchange rates, and the [...]
Carline Baum on the regulatory reform efforts of Barney Frank and Chris Dodd:
Fannie and Freddie have cost the taxpayer $112 billion so far to keep them afloat, with more to come as the government assumes losses from homeowners and lenders.
Yet Dodd faced the cameras last week and said the Fed had been an “abysmal failure” [...]
If the headline seems a bit contradictory you obviously haven’t attended the US School of Treasury Secretary Diplomacy. Geithner claims to want a strong dollar:
TOKYO — U.S. Treasury Secretary Timothy Geithner said Wednesday that maintaining a strong dollar is “very important” for the country’s economy, sticking to his mantra on foreign-exchange policy as the U.S. [...]
One more reason why devaluing the dollar is a self defeating exercise. Foreigners’ returns in US stocks are diminished by a falling dollar which deters them from investing in the US which causes the dollar to fall and diminish US stock returns…..well you get the picture. The US is suffering from a lack of capital [...]
