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FBN’s Peter Barnes on statements made by the Fed Chairman about quantitative easing and the current Libor rate.
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Sure I do indeed have breaking news out about hearing -- Ben Bernanke on Capitol Hill let's listen to what Bernanke just said about possible new stimulus money printing.
Reflecting its concerns about the slow pace of progress in reducing unemployment and the downside risks to the economic outlook.
The committee -- clear at its June meeting that it is prepared to take further action as appropriate.
To promote a stronger economic recovery and sustained improvement in labor market conditions.
In a context of price stability alright Peter bonds you all right that what else -- Ben Bernanke have to say about that and did he mention the interest -- scandal libel.
Yes US question about the interest rate scandal Stewart here and he said that he is not a 100% confident that.
-- and been enough changes made but the fact is that the financial crisis is over so.
Perhaps it's not as big a problem but he would like to see changes in the way that the Libor.
This calculated on additional stimulus for the economy he did subsequent to the -- to the remark that you just or -- -- there.
Race to conditions for.
Implementing -- adopting additional quantitative easing by the Fed number one a sustained recovery in labor markets.
And -- or.
And if that's if it is sustained.
The main they're -- not be a need for additional quantitative easing or whether or not.
He said the labor market is stuck in the mud.
That would trigger it and second another trigger would be.
Reaction to an increase in deflation risk he said it was very interesting I -- you write that we thank -- -- is that to us.
I should tell everybody that they young market decline has accelerated we're -- down 77.
