Posted on 07/17/2012 8:56:22 AM PDT by whitedog57
Like the old E.F. Hutton ads, “When Ben Bernanke speaks, people listen.”
The Euro:
Gold:
US Treasury 10 year yield:
The reaction to Bernanke’s speech is less than enthusiastic. Apparently, the market wanted a more firm statement on more quantitative easing (and Senator Schumer from New York said so in the Senate hearing).
In Bernanke’s defense (which no Senator acknowledged), M2 Money Velocity is falling below levels not seen in modern times.
If you watch Bernanke’s Senate presentation, Senators Toomey (PA) and Corker (TN) win the award for best observations and questions.
No one expressed the sentiment that The Fed is usurping Congress' authority.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
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