Thursday, November 08, 2007

Bernanke Comments

Here is a brief summary of some of Bernanke's prepared comments for his testimony today:
  • Bernanke: says mortgage deliquencies to rise in coming quarters
  • Bernanke says FOMC in October meeting didn't see robust growth of Q3 sustained in near term
  • Bernanke: Repeats Fed to 'act as needed' on growth, inflation
  • Bernanke: subprime delinquencies likely to rise, more foreclosures may weaken housing, broader economy
  • Bernanke: Fed 'on schedule' for new mortgage rules in 2007
  • Bernanke says inflation pressure from oil may further restrain economy
  • Bernanke says Fed sees 'sluggish' growth in first part of '08
  • Bernanke says U.S. economy remains resilient but financial market volatility, strains have persisted
  • Bernanke: Dollar, Oil, Commodities to spur short run inflation
  • Bernanke says FOMC expects growth to 'slow noticeably' in Q4


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