Why would he stick his neck out and make a prediction like this? If he turns out to be wrong (as I think he is), this will become a punchline. Where is the upside for Ben here?
Also he uses some pretty obtuse phrasing in "Mr. Bernanke said the consensus of forecasters was for moderate growth for the rest of this year and next...". What is he saying here? Does he agree with the "consensus of forecasters"? Or is he merely relaying someone else's forecast without any endorsement? http://www.nytimes.com/2009/09/16/business/economy/16bernanke.html ------------------------------------------------------------snip The Federal Reserve chairman Ben S. Bernanke said Tuesday that it was “very likely” that the recession had ended although he cautioned that it would be many months before unemployment rates would drop significantly. U.S. Chairman of the Federal Reserve Ben Bernanke listens to questions after making remarks about a year of economic turmoil at the Brookings Institution in Washington Tuesday. “From a technical perspective, the recession is very likely over at this point,” he said, adding that “it’s still going to feel like a very weak economy for some time, as many people will still find that their job security and their employment status is not what they wish it was.” The cautiously optimistic assessment came at the conclusion of a speech by Mr. Bernanke at the Brookings Institution marking the anniversary of the market crisis that was precipitated by the collapse of the investment bank Lehman Brothers. Mr. Bernanke said the consensus of forecasters was for moderate growth for the rest of this year and next, particularly as credit markets thaw, consumer confidence takes time to heal, and the federal government begins to unwind a series of federal spending and lending programs intended to mend the economy. -raghu. -- Today is National Existential Ennui Awareness Day. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
