Excerpt from: Forex News
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| March 16, 2009 | | Fed chairman attempts to instill confidence in the markets | Ben Bernanke went on 60 Minutes and said that he thinks the recession could end this year. GFT's Boris Schlossberg points this out about the likely direction the Fed will take from this point going forward:
Chairman Bernanke’s focus on repairing the financial system as the
primary key to reviving the US economy suggests that the Fed will
continue its monetary easing policies for the foreseeable future and
most likely indicates that the upcoming FOMC meeting this Wednesday
will re-affirm the Fed’s commitment to quantitative easing.
It will be interesting to see whether he is right about the recession -- and what a return to global economic growth will do to the strength of the U.S. dollar on the forex market.
| Topic Tags: Ben Bernanke, Boris Schlossberg, forex market, markets, monetary easing, recession, U.S. dollar | |
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