Bernanke doesn't know where 1/2 of a Trillion dollars went. The decision was made by a committee and they didn't discuss the money going to the American people. Under what authority was this money given away? Bernanke-"We have a long standing legal authority to do swaps with other banks. It's not an emergency authority of any kind." It it was a swap, what did we get in return?
One of the arrangements? 9 Billion dollars...U.S. dollars...to New Zealand. This is approximately $3,000 for every person who lives in New Zealand.
Showing posts with label Bernanke. Show all posts
Showing posts with label Bernanke. Show all posts
Wednesday, April 13, 2011
Wednesday, June 24, 2009
Fed Evaluating Radical Economic Programs
By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer –
WASHINGTON – With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.
Most economists predict that Fed Chairman Ben Bernanke and his colleagues, who resumed meeting Wednesday morning, won't launch any bold new efforts at the end of their two-day gathering.
Fears have grown on Wall Street that the Fed's radical efforts to lift the country out of the longest recession since World War II could ignite inflation later on.
"Injecting additional money into the banking system is a pretty dangerous game right now, and the Fed cannot afford to press on the accelerator amid a potentially inflationary environment," said Richard Yamarone, economist at Argus Research.
Wanting to snuff out any rise in inflation expectations, the Fed could opt to tweak its already-announced programs to slow down purchases of either government debt or mortgage-backed securities. Doing so also could help avert possible market disruptions and make it easier for the Fed to reel in these programs once the economy rebounds.
Read More From Source Here
WASHINGTON – With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.
Most economists predict that Fed Chairman Ben Bernanke and his colleagues, who resumed meeting Wednesday morning, won't launch any bold new efforts at the end of their two-day gathering.
Fears have grown on Wall Street that the Fed's radical efforts to lift the country out of the longest recession since World War II could ignite inflation later on.
"Injecting additional money into the banking system is a pretty dangerous game right now, and the Fed cannot afford to press on the accelerator amid a potentially inflationary environment," said Richard Yamarone, economist at Argus Research.
Wanting to snuff out any rise in inflation expectations, the Fed could opt to tweak its already-announced programs to slow down purchases of either government debt or mortgage-backed securities. Doing so also could help avert possible market disruptions and make it easier for the Fed to reel in these programs once the economy rebounds.
Read More From Source Here
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