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Fed Jackson Hole Address Friday

August 25, 2011 by  

Fed Jackson Hole Address Friday

This time last year brought forth the Federal Reserveā€™s announcement that it would embark on a second round of quantitative easing (QE2), leading to the subsequent pumping of $600 billion in newly printed greenbacks into the economy. This Friday, Fed Chairman Ben Bernanke will again address the public from Jackson Hole, Wyo., to unveil new efforts to repair the economy.

QE2 was expected to bolster financial markets and bring the U.S. economy out of its downward spiral, but the result was an inflation-induced spike in commodity prices that lead to goldā€™s $1,900 per ounce peak last week. Bernanke is expected to deliver a speech on Friday that will outline little change in the Federal Reserveā€™s current policy. The Wall Street Journal reports that there is no reason to expect a third round of quantitative easing (QE3) being unleashed on the economy.

The Financial Times suggests the title of this yearā€™s speech, ā€œNear and Long-Term Prospects for the U.S. Economy,ā€ is an indicator that Bernanke will shy away from addressing the effect the Federal Reserve has had on the economy recently, instead opting to talk about the future of the economy.

While QE3 is not imminent, it is still a possibility, according to reports. High inflation has lessened worries Bernanke may have about a sudden price drop, thus leaving the option on the table.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • Raggs

    I can think of two things off the top of my head that will revive our economy and start a path to recovery.
    One being the immediate removal of oblama from the white house and the second being the immediate removal of oblamacare… These are the only two things that will actually work throwing more money into the union fire will solve NOTTA!

  • JimH

    Going to Jackson “Hole” to talk about the economy. How ironic. Next to the Grand Tetons, French for big breast. (sucking on the government teat?)
    We were there a week and a half ago. It’s a gorgous place. Watch out for “bear and bull” moose. (market joke)

  • People’s Rights

    Wow, this article puts him back in the spotlight again in a good way.

    Bernankeā€™s money printing machine ainā€™t slowinā€™ down, and heā€™s looking at us with sarcasm …….. Nice job SAM ROLLEY!

    The Federal reserve, not the Federal Express, can buy anything and everything in the world.

  • Thinking About

    Maybe our way out of our “mess” is to get rid of the do nothing Congressional members and replace them with intelligent people who at least is familiar with American history and has a small understanding of civics.

  • South Dakota

    Thinking About- they have already replaced them! Type in “super congress” in bing. and find we are the resistance! Its still america we can have opinions last time i checked


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