Flash Comment
FOMC: growth concerns return
Wed, Jul 16 2008, 07:15 GMT
by Peter Possing Andersen
Danske Bank A/S
Overview: This afternoon Fed Chairman, Bernanke held the first part of his semiannual report to Congress in the Senate. Generally, the testimony was slightly softer than was expected by the market. It included no hints that the Fed is about to reverse monetary policy anytime soon. It also suggested that the central bank is now equally concerned about growth and inflation, leaving it in a neutral position. In summary, this indicates that interest rates are likely to remain on hold for a longer period of time.
Published on
Wed, Jul 16 2008, 07:20 GMT
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