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Bank of America Chief Economist Mickey Levy on what to expect from Bernanke’s speech in Jackson Hole, Wyoming.
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-- all eyes will turn from Tampa Florida -- Florida that is to the exclusive mountain on clay -- of Jacksonville Wyoming Jackson Hole Wyoming that is where policy makers from around the world including fed chair Ben Bernanke are gathering.
Bernanke said to deliver a major speech tomorrow joining me now with a preview Bank of America's chief economist Mickey Levy.
Welcome to the show it's great to have you here markets have been betting on stimulus for some time will Ben Bernanke tip his hand tomorrow.
Beyond what he's already said in recent speeches and the recent fed minutes.
I don't think -- knock he'll break any new ground.
But keep in mind.
Monetary policy is already very very stimulus.
It as a matter fact right now we just got a surprise this week on GDP came in higher than expected at one point 7%.
-- -- retailers reporting some pretty decent earnings here.
I is it possible.
That this mean that we're definitely gonna get stimulus this -- could be wrong could Bernanke say -- now.
You're bringing up a great point because the Federal Reserve has.
That's the signal to financial markets in the public that it it stands prepared to provide.
More stimulus to the market either through forward guidance on interest rates or form more.
More liquidity to the market.
Yet.
As you point out.
In their last month we've -- favorable news on employment on retail sales and consumption and on housing.
And that puts the for the for the Fed in in a bind.
Once again I think Bernanke will say tomorrow that the --
