Wednesday, November 02, 2011

At Bernanke's press conference, a good question by Washington Post's Neil Irwin on the successive forecast downgrades by the Fed.

Good second question on NGDP targeting but Bernanke said they're not going to do it.

Good question by the Economist's Greg Ip about what would prompt further action and Bernanke answered that lower inflation than expected would be one thing.

Bernanke says Fed's forecasts for unemployment are unsatisfactory but kind of equivocated over the FOMC's future decisions on policy actions. In response to a second query on the subject he said that their tools for easing come with downside risks.

He mentioned Charlie Evans in response to a question about possible communication strategies.

Good answer from Bernanke in response to a question about people hurt by low interest rates like savers. He said savers will benefit from a growing economy by providing investment opportunities.

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