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FBN’s Peter Barnes with banks' and economists' reaction to Ben Bernanke’s testimony this week on the economic recovery and GDP.
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I -- economists from the largest banks give their outlook on the US economy and reacted to the Fed Chairman Bernanke's hill testimony yesterday.
Peter -- says deep down he's been with some of the bankers -- Peter.
I Trace -- back economists forecast that the US economy will continue to grow at a moderate pace with ongoing downside risks from Europe and the looming fiscal -- sounds just like Ben Bernanke's testimony.
Yesterday and at a news conference here in Washington today this group -- this committee of economists said it expects real GDP to expand.
By 2.2 percent this year compared to one point 6% in 2011 but the economist said that that.
Rate of growth while not push the unemployment rate down in this election year below 8%.
And they do not expect do not expect the Fed to ride to the economy's rescue -- more stimulus maybe more quantitative easing for example.
They argued that the Fed will do that only if there is a whiff of deflation in the -- The committee doesn't think that there's -- room.
In the third photos are will move is likely to do any.
Further type.
Monetary actions.
Of -- QE type.
Nature of the overall view is is that -- -- pretty much status quo in terms.
Of monetary policy.
The group also forecast -- mild recovery in the housing market due to these record low interest rates -- it.
Peter black and standing DC thank you still doesn't sound like this animal a couple of -- -- had not.
