Central Bank Watch
A Question For Fed Chairman Bernanke
July 21, 2009
Chairman Bernanke used its House testimony today to lay out conditions that would compel the Fed to tighten monetary policy, a diminishing output gap, better labor market conditions, and evidence either of rising expected inflation or rising actual inflation. By framing the answer in conditional terms, analysts did not get a quantitative answer on the […] More
Central Bank Watch
Bank of Canada Policy Statement: Continuity and No Surprises
July 21, 2009
The fifth scheduled Bank of Canada policy announcement of 2009: Retains an overnight rate target at 0.25% and unchanged levels of 0.50% for its Bank Rate and 0.25% for the deposit rate. Repeats the pledge, first given on April 21st, not to raise the overnight target rate until at least mid-2010. Announces new schedules of […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: A Letter From Bernanke in WSJ
July 21, 2009
Ahead of his Humprhey-Hawkins testimony before the House today and the Senate tomorrow, Fed chairman Ben Bernanke placed an Op-Ed piece in today’s Wall Street Journal entitled “The Fed’s Exit Strategy.” This escalated form of communication can be read by clicking here. The Journal also runs a lengthy front-page background article on the various political […] More
