Bernanke, looking jittery and haunted, testifies – open comment

Watching this testimony live, without benefit of transcript, Bernanke incredibly is saying there will NOT be a recession!  Forecasting slower growth picking up in late 2008.  Some decent questions from Congresspeople re: why would a rebate actually improve economy?  Shift from pro-savings economy to pro-debt, etc.

Comments? 

Why is Bernanke talking so optimistically (yet looking terrible)?

What will Congress do on fiscal side?

Will Bernanke lower rates on 1/30 and if so why?

Cheers!

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2 responses to “Bernanke, looking jittery and haunted, testifies – open comment

  1. >Why is Bernanke talking so optimistically (yet looking terrible)?

    There could be a number of reasons for that. Maybe he’s having a hangover from the night before. Either way he needs acting lessons and pronto.

    >What will Congress do on fiscal side?

    Dunno. But if they do anything it will mean that things are worst than we think and will not respond to cuts as quickly.

    >Will Bernanke lower rates on 1/30 and if so why?

    I think he will, cause that’s what he does best. 🙂

  2. 100bn stimulus spent by early 2009 would have “measurable” effect on GDP in 2009 and would not be window dressing.

    No wonder he has a credit bubble hangover

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