Bernanke blames Europe and fiscal cliff for stalling recovery
The chairman of the Federal Reserve, Ben Bernanke, today (July 17) testified before the US Senate and painted a bleak picture of the country's economy.
Delivering the Semiannual Monetary Policy Report to the Committee on Banking, Housing and Urban Affairs in Washington, DC, Bernanke explained that economic activity had "decelerated" in the first half of 2012.
"After rising at an annual rate of 2.5% in the second half of 2011, real gross domestic product increased at a 2% pace in the first
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Credit delinquency rise may be due to home priorities – study
Consumers choosing to repay auto and home loans rather than credit cards, say authors
UK unfreezes Syrian central bank assets
Decision follows similar move by EU, though US sanctions remain in place
Bangladesh does not need to rely on IMF – central bank governor
Mansur says country needs to increase revenue if it is to address deficit
Data from Covid liquidity programmes could improve markets – BoC study
Anonymising and aggregating information would assist with price discovery, argues research
Iran’s central bank tells lenders to be more transparent
Excessive delays found in responding to enquiries from members of the public
War in Taiwan would cause severe disruption – Fed study
Conflict would be most economically impactful since World War II, says author
Bank of Israel instructs lenders to provide war relief
Central bank says lenders must set aside $833 billion for groups affected by conflicts
Tunisia’s president ‘gambling’ with central bank
Analysts say ruler’s attempts to erode bank’s independence create serious risks for economy