Bernanke Holds Press Conference TODAY at 2:30 Eastern Time to Make More Friends
April 27th, 2011Chairman of the Federal Reserve, Ben Bernanke will hold a press conference immediately after his policy meeting with the FOMC. The press release was sent out unusually early today, prefacing the bullet points of the press conference that will be opening at 2:15 pm. The Fed is seeing a lower confidence across the board and is taking notes from England’s central bank and providing more transparency, trying to escape the “behind the curtain” image they’ve held so tactfully over the past few decades.
You can watch the press conference live from the Federal Reserve’s website.
The press release gave a glimpse into what we should expect from the Fed in the coming months. Many news sources are predicting a pull back on the QE2 funds. As it appears in the press release the $600 billion in emergency funds will continue to flow out of the Fed for the rest of the current quarter. The interest rates will stay at the steady, yet artifically low 0-.25% … so no surprises there.
From what I’ve read it looks like nothing in their policy meeting gives us much of a change or any new information about the economy. Do we need the FOMC to tell us that we are heading towards inflation or avoiding it? I don’t think so. Look at gas prices, commodity prices like gold and silver, and watch other day to day expenses. That will let you know how the strength of the dollar is doing.
Chairman, we appreciate you taking the time to get out and put your public relations face on. I know it’s getting lonely up there at the top…but you’re not fooling us!
