Bernanke headlines:
BERNANKE SAYS DECLINE IN HOME PRICES CAUSING BROADER SET OF PROBLEMS THAN TECH BUBBLE COLLAPSE
BERNANKE SAYS HAVE MORE INFLATION PRESSURE NOW THAN WHEN RESPONDING TO SLOWDOWN IN 2001
BERNANKE SAYS WEAKER DOLLAR CAUSING DROP IN TRADE GAP, WHICH IS A POSITIVE DEVELOPMENT
BERNANKE SAYS GLOBAL DEMAND FOR COMMODITIES CREATING INFLATIONARY STRESS, COMPLICATING FED POLICY
BERNANKE SAYS FISCAL, MONETARY POLICY SHOULD LEAD TO STRONGER GROWTH IN 2ND HALF OF YEAR
BERNANKE SAYS IMPORTANT FOR MORTGAGE SERVICERS TO MOVE BEYOND TEMPORARY SOLUTIONS, LOOK TO LONG TERM
BERNANKE SAYS FAIR TO SAY FED IN MORE DIFFICULT POSITION TO RESPOND NOW THAN IN 2001
BERNANKE SAYS CONGRESSIONAL ACTION ON FHA, GSE REFORM COULD BE HELPFUL
BERNANKE SAYS ADDITIONAL STEPS MAY BE NEEDED, BUT HAS NO ADDITIONAL RECOMMENDATIONS AT THIS TIME
BERNANKE-MUCH MORE LIKELY THAT OIL PRICES, WHILE REMAINING HIGH, WILL NOT GROW SIGNIFICANTLY FURTHER
BERNANKE SAYS EVIDENCE INFLATION EXPECTATIONS REMAIN PRETTY STABLE
BERNANKE SAYS CERTAINLY HAVE TO WATCH INFLATION EXPECTATIONS VERY CLOSELY
BERNANKE-IF OIL PRICES STOP RISING AT CURRENT PACE, WILL SOON BE ON POSITIVE SIDE OF REAL RATES
BERNANKE-DOESN’T ANTICIPATE STAGFLATION, NO WHERE NEAR SITUATION OF 1970S
BERNANKE SAYS QUITE CONFIDENT WILL HAVE STRONG ECONOMIC GROWTH ‘IN NEXT FEW YEARS’
BERNANKE SAYS PROBABLY WILL BE SOME BANK FAILURES
BERNANKE SAYS DOESN’T ANTICIPATE SERIOUS PROBLEMS AMONG LARGE INTERNATIONAL ACTIVE BANKS
BERNANKE SAYS IN SOME CASES BANKS SHOULD RAISE MORE CAPITAL
BERNANKE SAYS FED FOCUS IN BANK REGULATION IS ON OVERALL STRUCTURE OF RISK MANAGEMENT
BERNANKE SAYS BELIEVES BASEL II MOVES IN RIGHT DIRECTION FOR BANK REGULATION
BERNANKE SAYS DISPUTES ANALYSIS THAT CURRENT SITUATION PARALLELS 1970S STAGFLATION
BERNANKE SAYS RISING UNEMPLOYMENT INSURANCE CLAIMS CONSISTENT WITH HIGHER JOBLESS RATE AHEAD
BERNANKE-VALUATION OF ASSETS ONE OF MAJOR PROBLEMS IN CURRENT SITUATION, UNSURE HOW TO REMEDY
BERNANKE-NOT SEEING BIG SHIFT IN VIEWS OF WHERE INFLATION LIKELY TO GO, FED WATCHING PRICES CAREFULLY
BERNANKE-KNOW OF NO EVIDENCE OF REDUCTION IN INTEREST OF FOREIGNERS TO HOLD DOLLAR ASSETS
BERNANKE-IF CONFIDENT SOVEREIGN WEALTH FUNDS INVESTING ONLY FOR ECONOMIC PURPOSES, IN U.S. INTEREST
11:55 Fed Chairman Bernanke reiterates that unemployment rate is likely to go up from here — Q&A
As noted on 20-Feb, Bernanke says their baseline projection for 2008 is 5.2-5.3%, but says there is a downside risk Bernanke sees unemployment insurance claims rising, which is consistent with a somewhat higher unemployment rate going forward.
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