ALPHA3
Active Member
http://rds.yahoo.com/_ylt=A9j8euzvG...edition/2009-09-17-bernanke16_ST_U.htm?csp=34
WASHINGTON — Federal Reserve Chairman Ben Bernanke says the worst recession since the 1930s "is very likely over" – and he was backed up Wednesday by reports on industrial production and consumer prices showing the U.S. economy is emerging from the economic slump without spurring inflation.
Output at factories, mines and utilities climbed 0.8% last month, exceeding the median estimate of economists surveyed by Bloomberg News, data from the Federal Reserve in Washington showed. The Labor Department said the cost of living climbed 0.4%, and was down 1.5% from August 2008.
Stocks rose after the reports underscored Bernanke's view that the worst recession since the 1930s was probably over. A lack of price pressures means policy makers, meeting next week, can continue to leave the benchmark interest rate near record-low levels to give the economy time to gain speed.
Bernanke warned Tuesday that "it's still going to feel like a very weak economy," with jobs scarce and growth modest.
"You're getting growth with really no inflation," said Joe LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York. "With the Fed out of play, it's really a good combination for investors."
Economists forecast industrial production would rise 0.6%, according to the median of 75 projections in a Bloomberg News survey. The Fed revised July's increase up to 1 percent from the previously reported 0.5%. The back-to- back gain was the biggest since late 2005.
I would sure like to hear what Royal Blue has to say about this given the fact his hero Bush created this mess.
WASHINGTON — Federal Reserve Chairman Ben Bernanke says the worst recession since the 1930s "is very likely over" – and he was backed up Wednesday by reports on industrial production and consumer prices showing the U.S. economy is emerging from the economic slump without spurring inflation.
Output at factories, mines and utilities climbed 0.8% last month, exceeding the median estimate of economists surveyed by Bloomberg News, data from the Federal Reserve in Washington showed. The Labor Department said the cost of living climbed 0.4%, and was down 1.5% from August 2008.
Stocks rose after the reports underscored Bernanke's view that the worst recession since the 1930s was probably over. A lack of price pressures means policy makers, meeting next week, can continue to leave the benchmark interest rate near record-low levels to give the economy time to gain speed.
Bernanke warned Tuesday that "it's still going to feel like a very weak economy," with jobs scarce and growth modest.
"You're getting growth with really no inflation," said Joe LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York. "With the Fed out of play, it's really a good combination for investors."
Economists forecast industrial production would rise 0.6%, according to the median of 75 projections in a Bloomberg News survey. The Fed revised July's increase up to 1 percent from the previously reported 0.5%. The back-to- back gain was the biggest since late 2005.
I would sure like to hear what Royal Blue has to say about this given the fact his hero Bush created this mess.
