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Wednesday 16.08.2017 | Name days: Astrīda, Astra

US awaits Bernanke’s economic assesment

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The US Federal Reserve chairman Ben Bernanke

It is now the time for the American economist and the US Federal Reserve chairman Ben Bernanke to assess how much the US economy has weakened, reports Associated Press.

In response to sluggish employment recovery, low real estate prices and a fall in manufacturing, data on which were published last week, investors have reduced their stock market value for already four days in a row. While now, June 7, it is Bernanke’s turn to reveal his forecasts.

Bernanke is to deliver a speech at Atlanta banking conference and it will be his first public announcement regarding the US economy since this April, when the Federal Reserve head blamed high gas prices in the weak growth of early 2011.

Economists do not forecast Bernanke will change his standpoint or signal any concrete action from the FRS.

«It’s going to be steady as she goes. Bernanke will argue that his current game plan for the economy is just what is needed,» indicates Sung Won Sohn, professor of economics at Martin Smith School of Business.

As reported, on June 3 the US government published the data on unemployment rates in May, hitting 9.1%, while the number new jobs amounted to 54 000, which is the lowest figure in the last eight months.

 


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