Bernanke: Growth More Subdued

[jefferson_dem]

Source: AP

Bernanke: Growth More Subdued
Wednesday July 18, 10:27 am ET
By Jeannine Aversa, AP Economics Writer
Bernanke: Economic Growth Will Be Slower Due to Housing Slump

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke told Congress Wednesday that the economy has emerged from its anemic spell, but overall growth for the year will be lower than expected. Inflation remains the chief concern, he said.

Delivering a midyear Fed economic report to Capitol Hill, Bernanke struck a somewhat cautious tone. He suggested that the economy appears likely to expand "at a moderate pace" over the second half.

Still, the Fed chief told the House Financial Services Committee that growth this year will be a bit slower than the Fed projected in February. Growth should strengthen a bit next year, he said. The inflation forecast, however, wasn't changed. It calls for prices other than food and energy to edge lower.

Against this backdrop, the Fed is likely to leave interest rates where they are through the rest of this year.

For just over a year, the Federal Reserve has held a key interest rate at 5.25 percent, providing a period of stability to borrowers. Before that, the Fed had boosted rates for two years to fend off inflation.

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Read more: http://biz.yahoo.com/ap/070718/bernanke_economy.html?.v=6

[Double T]

1. What a bunch of double talk...........

"...economy has emerged from its anemic spell, but overall growth for the year will be lower than expected. Inflation remains the chief concern, he said."

[The2ndWheel]

2. Growth vs. Habitat

It really is the fight of the century. Only one gets to win.

[ryanmuegge]

4. Right-wing economists and their "science" will be the death of our species.

Their discipline isn't science, fact-based, or objective. Rather, it's all opinion and ideology backed up by entirely theoretical mathematical models. These clowns have hijacked our culture and have invoked the worst elements of human nature (i.e. entirely self-centered greed with no concern for anyone else) and legitimated it with dubious academic work.

Growth, growth, growth; buy more, buy more, buy more. Natural resources are infinite. It's all self-serving, shallow, predatorial bullshit. Many people unaware that natural resources are, in fact, finite are in for a big surprise soon. Not to question the academic rigor of their work (sure, much of it is mathematically sound, but anything can be constructed in theory), but as you point out, the unaccounted for discrepancy between "growth" and resources necessary to facilitate that growth is just one example of the disconnect between their academic work and objective reality.

[The2ndWheel]

6. Unfortunately it's more then just that specific group

It's everyone who wants more. It's everyone who wants everything. We all want higher wages. We all want longer, easier lives. Throw in a couple billion people in China and India who want in the game now, and they have as much right to it as we do, and it'll be fun(in the sad way) to see who wins the fight. At this point, it is exactly that, a fight. We don't like the physical limits of existence. We don't think we should die. We're not fans of evolution, seeing as how we breed other species to fit our needs, as opposed to other species being able to choose for themselves.

That process has been going on for thousands of years though. We can't stop at this point. There are 6.5 billion people on this planet, and more to come. It's us or the environment; two men enter, one man leave; there can be only one highlander. Not sure how we'll survive if we win, but come on, we're humans. At that point we'll finally be apart from nature, which has to be the goal, or else I don't know what we've been doing.

[AndyTiedye]

7. Not Necessarily So. Depends on What You are Growing

[Zenlitened]

3. And the gradual ratcheting down of expectations continues.

Is "we may be in a mild recession" next?

Or is there another catch-phrase that comes before we hear that?

Maybe "possibility of flat or negative growth"?

:shrug:

[brentspeak]

5. "More subdued". Nice choice of words. Reminds me of the android Ashe in the movie "Alien"

When Ripley (Sigourney Weaver) tells Ashe that he "hasn't done a goddamn thing at all" to help stop the rampaging alien, Ashe -- who secretly is an android, programmed by The Company to protect and transport the alien, the human crew being entirely expendable -- replies, "I'm collating."