Bernanke Was Dismissive
Here are my quick bullets on Ben Bernanke's Jackson Hole address, along with my reactions.
• The first part of the speech was reviewing what the Fed actually did leading up to and during the crisis, with a focus on the pure monetary actions (i.e. lowering rates, QE, Operation Twist, etc.) and less on the financial contagion activity. Not surprisingly he spoke positively of each program. In doing so, he quoted academic literature claiming that cumulatively the 10-year Treasury is 80-120 bps lower due to QE and Operation Twist. In fairness, the academic literature is mixed on the subject, but that's another topic for another time....481 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.