Excerpt
SUMMARY: Chairman Ben Bernanke announced that the Federal Reserve would continue its stimulus effort of pouring money into the bond market because the economy still needs help. Gwen Ifill talks to Neil Irwin of The Washington Post for a deeper look into the thinking at the Fed.
BEN BERNANKE, Federal Reserve Chairman: We try our best to communicate to markets. We'll continue to do that. But we can't let market expectations dictate our policy actions.
Our policy expectations have to be determined by our best assessment of what's needed for the economy. What we will be looking at is the overall labor market situation, including the unemployment rate, but including other factors as well. But, in particular, there is not any magic number that we are shooting for. We're looking for overall improvement in the labor market.
GWEN IFILL (Newshour): Today's moves comes amid a very public and highly- anticipated decision from the president about who will succeed Bernanke next year.
We look deeper into the Fed's thinking with Neil Irwin, who covers the financial world for The Washington Post. He's also the author of "The Alchemists: Three Central Bankers and a World on Fire."
No comments:
Post a Comment