Bernanke’s Testimony

Twice each year, the Chairman of the Federal Reserve is required to testify before Congress. I’ve actually hauled over to Capitol Hill a few times to see this. It’s a very odd experience since the hearing room is mostly empty.

The two testimony dates usually come on the hottest day of the year and the coldest day of the year. Today is one of the hottest and Bernanke spoke before the House Financial Services Committee.

Before Bernanke starts speaking, the Fed releases the transcript of what he’s going to say. Here’s today’s testimony.

I’ve said before that there’s been a surprising gap between what Ben Bernanke says and what other people say he says. If you want to get a handle on what the Fed thinks, I encourage you to give it a read. It’s pretty clear.

He said that the economy has been hurt by some temporary issues. Bernanke also noted that inflation has picked up some but that should also be temporary.

Posted by on July 13th, 2011 at 11:04 am


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