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FBN’s Ray Hennessey previews the speech by Ben Bernanke at the Jackson Hole economic conference.
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A Bernanke will speak in Jackson hall on today and for some well speaking of Smart analysis -- -- -- our director businesses.
Ray Hennessey from the newsroom this morning what -- finally come my -- -- I don't know I -- thinking about -- the pressure on until I talk about futures you can do -- Stewart doesn't it.
Futures are up 79 -- I'm calling that an update that you can.
As sluggish as -- authoritative -- it's like when I don't know how to pronounce someone's name.
This is John what do we think from Bernanke today you know what I'm looking at at -- you know way people and saying are you gonna days beginning do or -- -- -- -- that something I I I don't think so what what -- interest in -- it's sort of along the margins so.
First is at what point at this speech you in the audience that you have here is he's gonna start saying.
You don't look we've done as much as we can and are close to not being able to do anything more.
What's congress doing right through its monetary policy but this fiscal policy -- -- a very much monetary policy focused audience.
So if you're gonna -- you know jawbone the other side you're gonna do it in this warm and you know he's -- you know having shoot the gun so many times -- -- take -- more ammunition.
You've got congress right next film with a full clip full bulletin haven't shot when yet so.
I think I would be surprised if he -- start -- some things that you see a little more pressure on the fiscal side and fiscal policy.
Not just monetary policy the second thing which is a little more in the weeds but I think would be interest thing for the markets is.
Whether or not you start saving some economic and some -- targets to when you get out of this stuff.
Rather than just the gates right I mean we've been -- out in between 142015.
I'm animals will start unwinding some of this.
Instead he might -- been talking a lot academically about the idea of saying.
You know we're gonna start doing it once GDP hits a certain level -- once unemployment hits a certain level looking at some of these these he'd appoint targets for things.
And I don't know how the market would react and I I think the market -- a little more flexibility from from the Fed -- -- but it's certainly something.
But the participates in this forum at Jackson all the talking about.
It will be interesting to see whether or not he addresses that because then that will give -- give the markets a little more clarity.
On what and when will happen -- the line.
Right you're Smart -- bail out one important thing out.
Euros that yes that yet I think that he's gonna talk more about Europe today because that seems to be the one thing.
But despite market participants analysts -- writing notes up to write this morning saying.
We're not gonna hear anything about where stimulus that this -- that there ready to act which would ever let me bring that to bring money with the what does this say is.
About the pressures in -- because if Europe blows up -- That is the reason that he could watch QE3 -- that that's the gun that goes -- here's.
Why you're wrong show.
I don't think we have enough -- did did did this for this whole health and we can leave it at that it -- -- Yeah this this storm is really about US monetary policy traditionally he'll mention that Europe's and probably don't forget -- -- -- Europeans in the audience -- I don't think he wants to be seen as saying.
You know your causing us problems will fix it for them I think he also likes the independence of the ECB.
And is monitoring nap but I don't think necessarily wants to wade into what they can do which would be -- Good moments and great -- Geithner went over there.
I don't lump -- we established the trend wrong now we have not I'm not that -- -- to bring this show of hands how many people think -- wrong.
Overall I was gonna get on I was -- In the studio I'm donating our time talking about applying addition knows -- -- -- up.
I'd read I think I'd just now I think it is gonna talk about -- today I think yes.
I didn't yeah and diet can come and I'm not keeping us you know he's our clocks but I think the fiscal personal monetary policy debate is so import right now because congress hasn't done any thing in Bernanke's -- -- and -- -- tiger -- I don't know whether you couldn't.
And it's like -- they have to throw them back is good but that's what I wanna nuts and I really -- to -- that I think I why did they get to take home this conversation is totally -- on the part.
He's already he's going to address the theme of the relation of the pictures -- Jersey sure OK and I can't let you know that is what I why you don't -- empty chair.
So I don't -- to -- rates -- -- quick break here we'll talk to the chair and.
