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Politics : Stockman Scott's Political Debate Porch

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To: Jim Willie CB who wrote (34180)	1/4/2004 9:05:56 PM
From: lurqer	Read Replies (3) of 89467

a Christmas joke Suspect you'll consider this qualifies as a joke also. Fed's Bernanke says risk of dollar crisis is low Federal Reserve Governor Ben Bernanke said on Sunday he did not see much chance of a "dollar crisis" developing in which the U.S. currency's value kept plunging lower. In response to questions after an address to the American Economic Association in San Diego, Bernanke said he would refer any one with concerns on the subject to a speech Fed Chairman Alan Greenspan made last year. "Chairman Greenspan's speech...argues that the depth of international financial markets and the integration of the world economy is such that that risk is quite low -- not zero, but quite low," Bernanke said. "There's also a strong incentive on the part of our trading partners to avoid it because it would be as damaging to our trading partners as it would be to us," Bernanke said. He added that if such a crisis did occur, the Fed would take action to mitigate any damage to domestic industries. forbes.com lurqer

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