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Here's the speech Ben Bernanke gave yesterday to the Economic Club of New York. This has been getting a lot of attention in investing circles.

As I've said before, I'd never base an investing decision on anything said by a member of the Federal Reserve. However, Bernanke gives an interesting speech. Unlike other Fed Chairmen we could name, his talk is clear and jargon-free.

The issue Bernanke is concerned with is why long-term interest rates are still low despite 14 increases of short-term rates. Personally, I think this is more of an "angels-on-a-pin" topic.

It's fun to speculate why, but it really doesn't matter that much. Bernanke seems to believe that the low rates are due to an excess of savings around the world.

Posted by edelfenbein at March 21, 2006 2:39 PM