Ben Bernanke Press Conference june 22 2011

Ben Bernanke Press Conference june 22 2011 : Since May, the US economic growth and stock market has hit the skids. The S&P 500 Index has fallen about 5 percent, the housing market is double dipping, the jobs market's recovery is disappointing, and the manufacturing sector is showing signs of weakness. Meanwhile, consumer inflation continues to tick up.

In a June 7 speech, he acknowledged the recent soft patch but dismissed it as transitory because disruptions from Japan's natural disasters will lessen and energy prices won't remain elevated for long. In the second half of 2011, Bernanke thinks growth will "likely to pick up somewhat." Bernanke press conference june 7 2011 in Atlanta...

On inflation, Bernanke acknowledged the pickup but dismissed it as not broad-based and transitory in nature.

Now, on June 22, Bernanke will likely be tested on whether or not he'll stick to his assessments. The FOMC Announcement will be at 12:30 pm EST today and will be followed by the 2nd ever FOMC press briefing with Ben Bernanke at 2:15 pm EST where he will discuss the FOMC's latest quarterly economic projections. The purpose of the briefings is to provide additional context for the FOMC's policy decisions and to allow for Q&A with the press. According to the Fed, the "introduction of regular press briefings is intended to further enhance the clarity and timeliness of the Federal Reserve's monetary policy communication."
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