Vladimír Urbánek (Kurzy.cz)
Markets  |  July 17, 2012 11:45:57

Bernanke will have a semi-annual commentary on the economy, speculation is a sign of further QE or support any particular action

U.S. Fed chief Ben Bernanke will present today and tomorrow before U.S. lawmakers regular semi-annual report on the state economy. After the last data on the development of retail and some other indicators are now increasingly speculating on the possibility that the IRS will present his speech supporting some specific steps to revive the world's largest economies. Prolonged falling retail sales comes mainly from uncertainty in the labor market, which still fails to show significant improvement desired. IRS while the last FOMC meeting on the rates stated inter alia that the central bank is prepared to consider further purchases of assets, if there is no improvement in the labor market. Long-term goal for the Fed's unemployment rate is between 5,2-6%. The rate is fluctuating above the 8% and after 41 months in a row.The Fed in June alone increased its estimates of the amount for this year at 8-8,2% compared to 7,8-8%, which was estimated in April. For 2013, the central bank lifted from the original estimates of 7.3 to 7.7 on 7,5-8%.

So far the Fed in the years 2008-11 in two rounds of the so-called quantitative easing (QE) assets purchased in the market or U.S. bonds for approximately 2.3 trillion dollars. During these years also initiated Operation Twist, which replaces the expiring government bonds with shorter maturities for bonds with longer maturities. This program is still operational and have even been recently increased.
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Bernanke bude mít pololetní komentář k ekonomice, spekuluje se o náznacích dalšího QE či nějaké konkrétní podpůrné kroky

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