By law, the Federal Reserve Chairman has to testify in front of Congress twice a year
Federal Reserve Chairman Ben Bernanke appeared in front of the House Financial Services Committee for his semiannual Humphrey-Hawkins testimony. The testimony took several hours and covered a lot of subjects—from monetary policy and the economy to the future of real estate finance, banking regulation, and more. I’ll break down the discussion along its different subjects, and then talk about how Bernanke’s testimony affects the mortgage REITs.
- Part 2: The overall state of the economy
- Part 3: Monetary policy and quantitative easing
- Part 4: Labor markets and unemployment
- Part 5: Inflation
- Part 6: Implications for mortgage REITs
We’ll start with Bernanke’s overall view of the economy in Part 2.
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