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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (45584)	11/15/2005 4:06:06 PM
From: ild	Read Replies (2) \| Respond to of 110194

DJ Bernanke: Healthcare Cost Rises A Concern For Wages,Econ DJ Bernanke: Doesn't See Big Change In Demand For US Assets DJ Bernanke: Fed Doesn't Have Much Role In Current Acct Gap DJ Bernanke: More Flexible Currency In China's Own Interest DJ Bernanke: Treasury Should Take The Lead On Forex Isssues DJ Bernanke: China Needs 'To Do More' On Forex Flexibility *DJ Bernanke: China Will Move 'Somewhat Slowly' On Forex DJ Bernanke: Doesn't See Big Change In Demand For US Assets WASHINGTON (Dow Jones)--Ben Bernanke, the nominee for U.S. Federal Reserve chairman, said Tuesday he doesn't foresee a big drop in international demand for U.S. assets following the recent sharp growth in the current account deficit. Responding to questions from members of the Senate Banking Committee during his nomination hearing, Bernanke reiterated that the current account deficit needs to come down over time, but he said the Fed doesn't have much of a role in the process. "The Federal Reserve's main objective should be to maintain domestic employment and price stability and to allow other factors to be predominant in curing the current account situation," he said. Those other factors might include increased public and private savings in the U.S., more flexible exchange rate policies from foreign trading partners and more domestic demand-led economic growth overseas, he said. EDIT: BERNANKE SAYS US ECONOMY IS IN 'STRONG RECOVERY' U.S. economy is in a 'strong recovery,' which should persist next year despite recent hurricanes, but housing and energy prices are risks to the outlook, Ben Bernanke says. Bernanke also tells lawmakers he will be 'strictly independent' of all political influences if confirmed to lead Federal Reserve, affirming that he would persist with Fed Chairman Alan Greenspan's approach to monetary policy.