2:15 hexun foreign exchange news April 28 Beijing time on Thursday, Fed Chairman Ben Bernanke said at a news conference attended by higher oil prices did not affect United States economic recovery, QE2 will be completed on time and to maintain its loose monetary policy, further easing still have to judge. Time and does not determine interest rates, in addition to biaopu down United States Outlook or stimulated Congress to resolve the fiscal deficit.
economic kinetic energy will be slightly less
he said it now expected GDP data will be relatively weak in the first quarter of, the majority of its reason is temporary in nature. We have only modest downward estimate, to take into account economic momentum may be slightly reduced. And will pay close attention to whether the economic recovery as we believe can be maintained.
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fed first open reporter will quantitative loose stay "veil to opening" focused fed back city means Greece last year debt deficit scale than expected RMB meeting modified to overcome floating fear syndrome AUD/dollars then create history high 1.079 euro in fed resolution announced Qian climbed New Zealand joint storage material maintained interest rate in 2.5% does not variable second quarter investment policy will hot registration in the for inflation problem , Ben Bernanke believes that its expectations inflation will fall to more normal levels. If no further rise in oil prices, inflation will come down. If the medium-term inflation expectations remain firmly in control, we will be happy to wait and see.
employment market we want to make sure the recovery is sustainable, improved in recent months "encouraging". But the status of the job market obviously is not good. And long-term unemployment is a serious problem, this is the Fed so positive for a reason.
QE2 will be completed on time
Mr Bernanke also said in the press, convinced that second set of quantitative easing to the United States economy is the effective, will let the second set of quantitative easing in the absence of downsizing without, and to maintain its loose monetary policy since the June scale invariant, market already have fully expected, but the current monetary policy is the general policy.
second series of quantitative easing is not a panacea, but it will lead the economy in the right direction. Then needs to determine whether further easing measures are necessary. Because of rising inflation, further reducing the attractiveness of the quantitative easing policy.
he says in the process of exiting the loose monetary policy to a point, could initial step would be to stop investment. Stop all or part of a form of investment will be a tightening of monetary policy.
cannot determine when interest rates
Fed Chairman Ben Bernanke said at a news conference on Wednesday did not know the exact rise time, the Federal open market Committee statement "a long time" means the Federal Reserve held in at least a few times after the monetary policy meeting before deciding whether to raise interest rates.
Ben Bernanke believe that withdrawal of the pursuit of security investment funds during the financial crisis is an important reason for the dollar, he said fed policy should make the dollar is strong in the medium term, because a strong dollar in line with United States and the interests of the world.
higher oil prices did not affect United States economic recovery
the Fed Chairman said, gasoline prices rose so much that created financial difficulties for many people. Gasoline prices rose not only increased the inflationary pressure and inhibition of the purchasing power, to the disadvantage of economic recovery. But the Federal Reserve in responding to rising gasoline prices alone will not do too much, at least in the case of no impact on economic growth, because crude oil demand growth came from emerging market economies.
he thought petrol prices most likely is not a recent rate continued to rise.
biaopu down United States Outlook or stimulated Congress to resolve the deficit
United States financial problems, he said, in a certain sense of biaopu initiatives does not really tell us anything, may provide stimulation for Congress to resolve the fiscal deficit. The deficit is not a question can be resolved in the next six months, to resolve is a long way to go. Cut spending measures that have been made so far do not have very serious consequences on economic activity.
in addition, he said, Japan's Central Bank did a good job in providing liquidity, stabilize financial markets. So far Japan earthquake on United States main economic impact is through the supply chain, but Japan earthquake on United States economic impact can be mild and temporary.
