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Saturday, January 4, 2014

Ben Bernanke says 2014 will be a good year for Stocks & U.S. Economy ?

. He said "excessively tight" budget policies had been counterproductive.
"With fiscal and monetary policy working in opposite directions, the recovery is weaker than it otherwise would be," Bernanke said.Federal Reserve Chairman Ben Bernanke on Friday predicted a stronger year for the U.S. economy in 2014, saying several factors that have held back growth appear to be abating
Bernanke also defended the central bank against critics who say the Fed's massive bond purchases have had little effect on jumpstarting the recovery.Fed decided last month to cut its asset-purchase program, known as quantitative easing, or QE, by $10 billion to $75 billion per month. It cited a stronger job market and economic growth in its landmark decision, which amounted to the beginning of the end of the largest monetary policy experiment ever.
"Economic growth might well have been considerably weaker, or even negative, without substantial monetary policy support," "Of course, if the experience of the past few years teaches us anything, it is that we should be cautious in our forecasts."Bernanke said. He noted economic research that supported the benefits of the Fed's bond purchases.
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