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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: The Reaper who wrote (243324)4/7/2010 3:02:44 PM
From: Smiling BobRead Replies (1) of 306849
 
The ugliness crawled out from under the blanket and bitch slapped Ben
Something was itching to give.
Message 26443238
Meanwhile, GS partying like it's 1999
------
DJ Fed's Bernanke: Budget Deficit Cuts Needed To Avoid Higher Rates

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By Luca Di Leo

Of DOW JONES NEWSWIRES


DALLAS (Dow Jones)--Federal Reserve Chairman Ben Bernanke Wednesday warned long-term interest rates could rise without a credible plan to cut the U.S. debt.

Answering a question on whether the rising fiscal deficits could bring higher inflation, Bernanke said that was not his concern as the Fed will 'not monetize the debt.' That's a term for printing money to finance the budget deficits.

But the Fed chief cautioned the budget imbalances could lead investors to lose faith in the U.S.'s ability to meet its debt obligations, leading to higher rates on Treasurys. That, in turn, could hurt a still-fragile recovery, Bernanke said.


-By Luca Di Leo, Dow Jones Newswires; 202 862 6682; luca.dileo@dowjones.com


Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day.

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