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More Bernanke: The first two rounds of QE have lowered Treasury yields by 80-120 basis points,...

  • Friday, August 31, 2012, 10:32 AM ET
    More Bernanke: The first two rounds of QE have lowered Treasury yields by 80-120 basis points, raised GDP by 3%, and increased payrolls by 2M. This remains a man who clearly believes in the positive effects of QE and still sees credit/financial markets as needing it. He didn't make any explicit promise for another round, but the speech comes close.
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This news story has 16 comments:

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    Of course there is no way to verify these "facts".

    What about the destruction his zero rate policy has had on seniors and the middle class so his banking buddies can enjoy $1000 a night outings in Jackson Hole?

    More bull from ben.
    31 Aug 2012, 10:34 AM Reply Like
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    ...damned if he did; damned if he didn't. What did you want? raise rates; or continue to prop up equities? or nothing? We're getting to the point no intelligent person wants to be a public servant...GOP has demonstated that the last two election cycles. Mitt uses moon landing as an American success (gov money); Paul uses Janesville GM plant closing against Obama (closed during Bush term) ...then they have Clint talking to a chair???
    31 Aug 2012, 10:53 AM Reply Like
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    No doubt this is why Weimar Germany was such a resplendent success and Zanzibar is the very model of prosperity, stability and civic attainment .


    Brazil for decades was poor and weak precisely because it relentlessly debased its currency(until it discovered the benefits of reducing public debt creating an honest currency and expanding the Productive economy and became a contempory success)
    31 Aug 2012, 10:46 AM Reply Like
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    If it "worked" so well....why not double or triple it????
    31 Aug 2012, 10:46 AM Reply Like
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    The sad thing would be if Bernanke actually believed the statistics that he is quoting.

    It's time the fed included Food in inflation figures, and other commodities. Food prices have increased every month for nearly three years. It is not an unpredictable variable. The doubling of meat, fish, grain prices is not inflation??

    Does Bernanke realize that worldwide food prices increased ten percent alone in July???

    These people are a disgrace. Why Obama kept Bernanke is beyond me, but obviously, the party that claims it is for the people is not too much different than the Repubs. The only difference is the Dems respect the rights of women more than the Repubs do, and they keep religion out of politics as the Repubs cater to the fundamentalist Christian right-wing crazies...
    31 Aug 2012, 10:54 AM Reply Like
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    Why is it bashing liberals like you can never post a profile? Afraid to come out?
    31 Aug 2012, 11:03 AM Reply Like
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    You are hopefully not naive enough to believe "profiles".
    31 Aug 2012, 11:10 AM Reply Like
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    "Core inflation" wonderful euphemism. "Collateral damage" another one. Food and energy are the most vital consumer basket components for the vast majority of people on this planet, yet Bernie deems them irrelevant. Probably because it would show some of the true QE costs.
    31 Aug 2012, 11:14 AM Reply Like
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    come on...food and energy have been omitted for some time because of the irratic fluctuations...hurricane forecast and gas $.10 higher in Chicago; forecast of freeze and OJ goes up at Kroger.

    What were you wanting to hear today? We have some critical problems to solve and we have a Reaganesque Clint talking to an empty chair.
    31 Aug 2012, 11:41 AM Reply Like
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    You're absolutely right on your take of Bersnake. He doesn't have a clue. The good news is as soon as Romney gets elected, he said he's going to dump him.
    31 Aug 2012, 11:44 AM Reply Like
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    Omitting food and energy because of eratic prices would be ok if in the short run/long run those prices netted to zero. But they don't. They only go UP. So the plain fact is the government statistics - also used to drive COLA increases for SS etc, are nothing but bogus BS.
    31 Aug 2012, 12:45 PM Reply Like
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    You are shot dude. Big government, corrupt unions, yeah that's what I want running the country. Go to Europe if that is the model you love so much. I see how well they are doing, lib boy.
    31 Aug 2012, 01:38 PM Reply Like
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    The reaction to the speech (expected text) was robotic. Why I got out of my shorts yesterday at the lows. The prime effect of QE is asset price inflation, enriching special interests. Profit from it. But don't believe for a second it is anything other than what it is, and what it isn't.
    31 Aug 2012, 11:29 AM Reply Like
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    Arthur Burns, Ben Bernanke. Different eras, similar policies, similar results.
    31 Aug 2012, 12:07 PM Reply Like
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    Added 3% to GDP.....really? What does that mean. One shot. To GDP growth. Where would it be today if we had not done anything? For one year? Cumulative ongoing?
    31 Aug 2012, 12:47 PM Reply Like
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    Obama claims his policies have created 4.4m jobs. Ben says the Fed's actions have created 2m jobs. So Obama has really only created 2.4m. If Obama takes credit for jobs created by the Fed, then clearly the Fed isn't neutral and has become political... since they're acting on order from the executive.
    31 Aug 2012, 03:28 PM Reply Like
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