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Bernanke: Rate Cut Possible to Cure ‘Historic’ Slump
Reuters
Tuesday, October 7, 2008
Federal Reserve Chairman Ben Bernanke Tuesday signaled a readiness to lower interest rates in a dramatic shift to support an economy battered by a financial crisis of “historic dimension.”
Recent economic data and financial developments show that the outlook for growth has worsened and downside risks to growth have gained, Bernanke said in remarks to the National Association for Business Economics. The outlook for inflation, while still uncertain, has improved somewhat as oil and other commodity prices have eased, he said.
“In light of these developments, the Federal Reserve will need to consider whether the current stance of policy remains appropriate,” Bernanke said.
In opening the door to rate cuts, Bernanke is departing from the view he and other Fed officials had expressed until recently that lower rates would likely have little effect in boosting economic activity while credit markets are frozen.
(ARTICLE CONTINUES BELOW)
Bernanke said the economy is poised for subdued growth during the remainder of this year and into next year. Financial turmoil is likely to extend the weak period and increase risks to growth, he said.
“Continued efforts to stabilize the financial markets are essential,” he said. “The Federal Reserve will continue to use the tools at its disposal to improve market functioning and liquidity,” he added.
The chairman’s comments drew surprise from some quarters.
“Despite the huge new programs to provide liquidity to the markets, the Fed Chairman just gave the green light for a rate cut at the October meeting if not before,” said Bank of Tokyo-Mitsubishi economist Chris Rupkey. “When the risks to the economic outlook increase, this is the sign that policymakers are preparing the markets for a rate cut and not a moment too soon.”
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18 Responses to “Bernanke: Rate Cut Possible to Cure ‘Historic’ Slump”
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October 7th, 2008 at 12:46 pm
The recent release of government funds can only increase the ability to lend but those with a lack of confidence in the future will refuse to borrow. A media campaign might trick potential consumers into believing that things will soon get better resulting in a jump start for the economy. But The public has been frightened by reports of banks going under and a depression looming on the horizon. Ordinary people are now in a panic and are holding onto their money like a shipwrecked sailor holds onto a life raft. It is difficult to cure a person that has been tramutized by the fear of becoming homeless and then forced to stand in a soup line. The economy will remain depressed until consumers regain confidence through time or the help of a good psychiatrist
.
October 7th, 2008 at 1:15 pm
new video
http://ca.youtube.com/watch?v=SWkNG0FqHqI
October 7th, 2008 at 1:26 pm
What an irresponsible move !!!
Here is comes: Stagflation / hyperinflation !!!
By the way, drug companies, liquor manufacturers and tobacco companies do very well in times like these.
October 7th, 2008 at 1:32 pm
We are going into uncharted territories – inflationary depression. And you thought the great depression was bad.
October 7th, 2008 at 2:06 pm
pittar patter, lets get ‘atter
there goes modern day babylon,
100,000 baby murders per year through partial birth abortion
money worshipers, money is your false idol
religion out of school
150 military basesaround the world
a false war with iraq, one million civilians killed by america
9/11 was done by your military industrial complex, to your own people
vietnam, false flag to get into war
ww2 allowed pearl harbour to be attacked so US could get into the war, which your president was elected to stay out of
nazis rocket makers brought over to run NASA
nazis doctors brought over to america to share what they learned in the death camps
false mega church religions led by the devil himself
cia lost 3 trillion, this was announced day before 911 andamerica does not investigate ? WOW
JFK murdered by americans as he was exposing the “shadow government”
the list is endless
this website has shown you the truth for years
BUT YOU DO NOTHING
BUNCH OF LAZY AMERICAN DOGS
your country turned your back on the great one
now, you will be turned to dust
may a peaceful country grow in your place
amen
October 7th, 2008 at 2:22 pm
Right you are “hey ho”,we did it to ourselves.
October 7th, 2008 at 2:26 pm
Makes sense to me. The economy is hurting bad from the looting of inflation….so reduce rates and ramp up inflation even more!
This system is coming undone, folks. We need an alternative currency, economic system and social policy. If we don’t start building these systems now, we’ll have nothing to turn to when these idiots lose control of their debt-based system (or deliberately pull the rug out from under it).
A new alternative system is now available.
It’s time to take back control of our societies from these criminals.
Don’t fight the system:
Replace it
http://www.youtube.com/watch?v=73×8uOXQjag
October 7th, 2008 at 2:32 pm
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
–The Cornbread Mafia
http://www.youtube.com/watch?v=uw5dP5gy2Vs
October 7th, 2008 at 3:10 pm
http://www.obamacrimes.com http://www.donaldtrumphair.com http://www.thepentacon.com 911 was an inside job obama is an illegal alien go to http://www.obamacrimes.com
October 7th, 2008 at 3:21 pm
bum nacky should have done this before any bailout !!!!!!!!!!!!!!
http://www.youtube.com/watch?v=fVS5mlphVRo
October 7th, 2008 at 3:50 pm
Social Viability:
Don’t be fooled. Your suggestion is exactly what the NWO is planning. A new world currency to shore up the economies of many nations. We are moving from many monetary systems into one, E Pluribus Unum. At first, it seemed like it was just America. Now, it is clear. Now we can see a new world coming into view, a New World Order.
Wow, it all feels surreal. This is no longer something that is just a conspiracy theory. This is real and everyone better understand it is a feudal system where there is no freedom of religion or freedom to speak freely about how much you hate the self-proclaimed kings.
Now, we know why the muslims (a.k.a. Turrurists) are so pissed off at all of this. They are the main objectors to this new world.
October 7th, 2008 at 4:43 pm
.
.
.
http://illuminatimatrix.wordpr.....symbolism/
;
;
;
It’s open.
It’s free.
.
.
.
October 7th, 2008 at 5:07 pm
If the Fed wants to save this economy, mebbe it should offer a negative interest rates. Oh, sorry, they just did that by offering to pay interest on other bank’s reserve deposits!…
October 7th, 2008 at 5:07 pm
hey ho gotta go:
Somehow you think every man, woman, and child in this country had a direct hand in these operations? I’ll not define words to you like : covert, clandestine, black ops, treason, conspiracy to commit treason, scapegoating, extortion, graft, opression, oversion, illusion, defiance, spy, counter-spy….. and all the drugs we get from OTHER countries.
Now, I can agree with you that many people in this country are ‘kinda slow’ and will not truly discover what is on the horizon. And unfortunately, millions of people on a national scale willbe murdered by puppets and henchmen of this ignorant global presence. We have tried pretty hard to warn them, but you know how dense people can be. Just as with many streams of media and radio, their agenda is quite self centered and oblivious. Remember now, this is America, and we have the game of ‘taking full advantage of freedom’ down to a blistery science. But also remember that we Americans are socially patient. As soon as the first cannon of martial law fires upon the masses, you will see over 250,000,000 (million)firearms crawling out from the woodwork! And that day will be the day that the true American will thrash away the weeds of or political landscape, till it under, and form a new and better society.
Part of the ‘master plan’ here is to remove power from the powerful. USA is at the top, and we are filled to the brim with corrupt politicians who have a bad case of financial greed (just like the Israelis and Zionists). Their greed will kill them through their own undoing. There is a vast reservoir of resources in this country which the NWO factions exploit at will, just as they do in Germany, Russia, France, Britain, Canada, Australia, Italy, Spain, Sweden, Mexico, and any other country you can name. USA has been the preferred place for their operations because we have a legendary military, financial power, and a RETARDED president, but he is a docile puppet for the secret society.
October 7th, 2008 at 5:39 pm
Just like putting gasoline on an open wound.
October 7th, 2008 at 6:48 pm
Watch Zeitgeist Addendum for free on google or youtube heres the trailer
http://video.google.com/videop.....&hl=en
October 8th, 2008 at 3:45 am
slump…..lol
October 8th, 2008 at 5:17 am
With all that has happened I have to believe almost all our Representatives have been bought off by the NWO gang. It’s a sad day when so many can sell out their country! When Clinton first started shipping our jobs overseas; I asked everyone how it could be good for us to loose our manufacturing base? No answers other than “he knows what he’s doing” about Willi Clanton. Ole Clanton got impeached for getting a bj, when he should have been impeached for Espionage and Sabotage of our economy! No wonder he’s always smiling–he is the first president in history to sabotage his own country with “the death of a thousand cuts”. Both the Busches’ and the Clantons have bought property in some far off land so they don’t have to be here to see the fruit of their labor.