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The possibility of further rate hikes by the Fed and the progress of monsoon can add volatility to the stock market
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While it’s easy to criticise Bernanke for his policies, we must also consider the context in which they were framed
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While the US financial system is in better shape than it was ahead of the global crisis in the late 2000s, he discussed concerns elsewhere.
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Although the Nobel committee says the research reveals how regulating banks and propping up failing lenders with taxpayer money can avert a financial and banking crisis, critics point out one of winners Ben Bernanke was a major contributor himself to the 2008 global financial crisis as the US Federal Reserve chief.
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Zoho's Sridhar Vembu claimed that the global financial system is on the edge due to the misguided monetary policies Ben Bernanke and other central bankers spearheaded.
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There’s a distressing geographic breadth to the slowdown. We shouldn’t obsess about what to call it.
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Ben Bernanke had a famous recipe for setting monetary policy that relied heavily on communication. Jay Powell and his global peers would do well to scale it back.
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The IMF’s World Economic Outlook says that for the top 10 emerging market economies, excluding China, the savings share of the top 10 percent has gone up from 5.87 percent in 1995 to over 13 percent in 2014
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The non-availability of surplus savings in China will affect the demand for assets.
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In her own way, Yellen already has signed on to a key aspect of Trump's plan. During a closely watched speech she delivered in October — nearly a month before Trump won the election — the central bank chief entertained the idea of allowing a "high-pressure economy" to come into existence before tightening the monetary screws.
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The policymakers said recent data made them more confident inflation was rising towards the Fed's 2 percent target, and that they were less concerned about a global economic slowdown, according to the minutes, which were released on Wednesday.
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The Fed's mandate "isn't to have a perfect world. That only exists in fairy tales, dreams and in your econometric models," Boockvar said in a recent note to clients. He believes that the Fed's monetary has been far too accommodative under Yellen as well as under Ben Bernanke.
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The US central bank this week held its target short-term interest rate range at 0.25 percent to 0.5 percent. The Fed indicated it could hike twice this year, but as rates remain below historical averages, many market watchers have wondered what the Fed could do to respond to another potential slowdown.
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El-Erian added that Wall Street has yet to price in increased political uncertainty stemming from the rise of protest politics in the US and Europe
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With the Fed considering a rate hike that would be the first in nine years, he said it's not evident that monetary policy is too easy because inflation is so low and full employment is only starting to emerge.
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The lower growth in the US economy is not a hangover from the Great Recession, Bernanke said, noting that more capital investment is needed to boost growth.
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In private and in public at last week's global central banking conference in Jackson Hole, the message from visiting policymakers was that the Fed has telegraphed an initial monetary tightening and, following a year-long rise in the dollar, financial markets globally are as ready as they can be.
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The world of zero interest rates has outlived its usefulness, according to a chorus of influential bankers, watchdogs and economists anxious about asset bubbles and wealth inequality.
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As investors look ahead to this week's Jackson Hole symposium for central bankers, one of the key worries is that attendees from the US Federal Reserve will make more hawkish statements than expected – in particular, signaling early US interest rate rises.
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Bernanke was paid at least USD 250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in January, according to sources familiar with the matter.
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The comments, from the heads of the Federal Reserve banks of St. Louis, San Francisco and Atlanta, freshen the message in the minutes of the Fed's most recent policymaking meeting, also released Wednesday, which showed many thought only a big change in outlook could disrupt further measured reductions in purchases.
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Yellen inherits the mantle of the world's most powerful central banker from Ben Bernanke, who guided the US and the global financial system through its deepest crisis since the 1930s during his eight years in the job.
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Yellen, 67, who succeeds Ben Bernanke as the Fed begins to unwind unprecedented efforts to boost the US economy, will be sworn in at 9 AM EST (1400 GMT) on February 3. She will have full authority as the top central banker from Saturday until the swearing-in ceremony, according to the Fed.
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Overall signs of improvement in the US economy suggest Fed officials will stay on track to cut monthly purchases of Treasuries and mortgage-backed securities by USD 5 billion each, bringing the total of their monthly asset purchases to USD 65 billion.
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In the RBI meeting, in most likelihood, some of the recommendations announced last week would be formalised while maintaining a status quo on rest of the monetary parameters.
