Power Central Bankers

AFTER a general election in Japan and another EU summit in Brussels, our correspondents discuss the ever-increasing power of central bankers -The Economist

Federal Reserve Press conference Highlights

---------BERNANKE COMMENTS------------

Fed's Bernanke says that future asset buys depend on substantial improvement in labour market Says: - FOMC can modify the programme as appropriate. - Fed intends to be flexible on the pace of purchases
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 Fed's Bernanke says reaching one of the thresholds will not automatically trigger tightening Says: - Goal of asset purchases is to increase near term economic momentum. - Decisions to modify asset purchases and rate increases are tied to different criteria.
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Fed says 13 officials would prefer first rate hike in 2015 (Prev. 12); 1 in 2016 (Prev. 1) Says: - Cuts forecast for 2013 GDP growth, cuts forecast for 2013 unemployment rate, cuts forecast for 2013 core inflation. - Cuts forecast for 2014 GDP growth, raises forecast for 2014 unemployment rate, cuts forecast for 2014 core inflation. - Sees long-run jobless rate at 5.2% – 6.0% (Prev. 5.2% – 6.0%), GDP growth at 2.3% (Prev. 2.3% – 2.5%).
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Fed's Bernanke says that future asset buys depend on substantial improvement in labour market Says: - FOMC can modify the programme as appropriate. - Fed intends to be flexible on the pace of purchases. - No single indicator gives full assessment of labour market.
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Fed's Bernanke says FOMC may increase stimulus in fiscal cliff event Says: - Sustainable long run unemployment rate could be less than 6%


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Further Action by the Fed Reserve?

Time for everyone's favorite Fed mouthpiece, Jon Hilsenrath to hand over the podium to his true superior, Ben Bernanke, by posting the Chairsatan's response letter to Republican Darrel Issa in which he defends QE and leave in the following: "There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery." And just to make sure that as Hilsenrath is to the Fed, so Reuters is to the ECB, we get the following tried and now simply pathetic regurgitation of the Spiegel rumor from this Sunday (which was since denied at least two times for the simple reason that Germany will never agree to open-ended debt monetization until global stock markets are literally collapsing) via Reuters: 

"ECB considering setting yield band targets under new bond buying programme according to sources." Full Article  

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The Fed Unspun: The Other Side of the Story - Forex Insighters

FOREX INSIGHT TOPIC OF WEEK IN ONLINE TRADERS ROOM: 
Here is a video shared among our traders in the Professional trade floor

The Great Peter Schiff made this presentation- "Ben Bernake fancies himself as a student of the Great Depression," says renowned investment broker, global strategist, author, and Austrian economist Peter Schiff, "but... if he were my student he would have gotten an F." 

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The International Forecaster: Bob Chapman : This is the beginning of the End of ..FOREX INSIGHT

Bob Chapman The International Forecaster Blog: Bob Chapman : This is the beginning of the End of ...: Bob Chapman - The Corbett Report - April 25, 2012 : The country of Holland is going to elect a new government this is very serious as Holla...

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Ron Paul Telll Bernanke He's Killing the Dollar

Ron Paul destroys Bernanke in a Q&A Session by bringing up the real rate of inflation (at least 9%) and at one point pulling out a silver dollar, which has maintained it's purchasing power rather well since Bernanke came into office in 2006.

The dollar turned higher against the euro after comments from Federal Reserve

AP - Good news for the dollar. Bond buying lowers interest rates and increases money supply. With more money in circulation, the value of the dollar that traders are holding decreases. The lower interest rates would make the dollar less attractive than other currencies that have higher interest rates.
The euro fell to $1.3337 in late trading Wednesday from $1.3459 late Tuesday.
Before Bernanke spoke, the euro rose against the dollar after the European Central Bank said it made $712.4 billion in low-interest loans to banks. The dollar rose to 81.18 Japanese yen from 80.55 yen and to 0.9039 Swiss franc from 0.8954 Swiss franc. AP link 95% of people trading lose money, but not if you know what you are doing. Become successful and join the Group of 5% of Successful trader. Forex Insight Team can teach YOU to become within the 5% minority of people who are making money.

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