Fed Chief Leaves Room for More Rate Cuts
WASHINGTON — Ben S. Bernanke, the chairman of the Federal Reserve Board, said on Thursday that the economic outlook had worsened, and he left room for the central bank to reduce interest rates yet again.
Testifying before the Senate Banking Committee, Mr. Bernanke said he was still expecting the economy to grow at a “sluggish” pace in the next few months and pick up speed later in the year.
While continuing to avoid predictions of a recession, the Fed chairman told lawmakers that Fed officials had lowered their forecasts and would be “carefully evaluating incoming information on the economic outlook and will act in a timely manger as needed to support growth.”
“The outlook for the economy has worsened in recent months, and the downside risks to growth have increased,” Mr. Bernanke said, noting that the growing losses in home mortgages have dragged down the broader credit markets and shaken the broader economy.
Ben Bernanke over at the Fed is trying to save Wall Street’s ass by flushing the toilet with the dollar.
No one in America, other than currency speculators (and they know how to sell short) has the foggiest notion of what Bumbling Benanke is doing to America globally. Greenspan and Bush, in six short years took a world currency and turned it into garbage. Now Ben is willing to pull the chain, just to keep the Dow above 12,000 until the crooks who did us in are safely out of office.
It’s still ‘the economy, stupid’ and this administration will do anything–cover any fraud, duck any responsibility, destroy the relationship with those countries that lend us our yearly shortfalls–anything to have the crash come after a Democrat has taken office.
The Decider has suddenly become the Denier and–unfortunately–Henry Paulson (who knows better) and Ben Bernanke (who knows nothing) are up there in the engineer’s cab, with their hands on the controls.
The nation is going to hell, right from under our noses (and pocketbooks) and these two dudes are shoveling the coal.