Bernanke Speaks

[Tams 20]

Monday Jul 12

 

Market Focus »

 

Ben Bernanke Speaks

10:00 AM ET

[Tams 20]

United States : Chairman Speech

 

Released For 7/21/2010 2:00:00 PM

 

Description

Federal Reserve Chairman Ben Bernanke Testifying before the Senate Committee on Banking, Housing, and Urban Affairs, U.S. Senate for the Semiannual Monetary Policy Report to the Congress

 

Highlights

Check back for highlights of the speech.

 

 

Sources: A special thanks to Market News Int'l for providing the scheduling information for the speeches.

Economic Calendar - Bloomberg

[Tams 20]

Bernanke: Fed ready to take more actions if needed - MarketWatch

 

MARKET PULSE

July 21, 2010, 2:00 p.m. EDT

 

Bernanke: Fed ready to take more actions if needed

 

STORYCOMMENTS SCREENER (75)

AlertEmailPrintShare By Greg Robb

 

WASHINGTON (MarketWatch) -- The Federal Reserve stands ready to take further actions if the U.S. economy slows significantly or falls back into recession, Fed Chairman Ben Bernanke told Congress on Wednesday. Bernanke did not elaborate on what further steps the Fed might take. The outlook is "unusually uncertain," he said, adding that he expects moderate economic growth and low inflation. He said it would take some time before lost jobs would be regained.

[Tams 20]

United States : Chairman Speech

Released For 8/2/2010 10:15:00 AM

 

Description

 

Federal Reserve Chairman Ben Bernanke (FOMC Voting Member) To speak to the Southern Legislative Conference 64th Annual Meeting, "Challenges for the Economy and State Governments"

 

 

 

Sources: A special thanks to Market News Int'l for providing the scheduling information for the speeches.

[brownsfan019 17]

Is there a reason you need to post things easily found on any economic calendar?

 

You never add any substance to them (surprise) just copy and paste.

 

Maybe change it up Tams and explain how you will be trading these events. I'm sure you got some indicator(s) over there that can aid in the trading of these events.

[macdfx 10]

Is there a reason you like to post your affiliate links to Amazon.com on TL?

[jaygo 10]

macdfx, Whats an affiliate link?

[macdfx 10]

Something like the one in this post: http://www.traderslaboratory.com/forums/f30/book-recommendation-4597.html#post50111

 

When you click on it and/or buy something, the person who set up the link gets paid by the merchant as a reward for bringing them a customer.

[ziebarf 10]

How can you be sure of this?

[thalestrader 14]

When you click on it and/or buy something, the person who set up the link gets paid by the merchant as a reward for bringing them a customer.

 

For crying out loud, are we now going to start whining if someone gets paid 40 cents on an affiliate link? Brownie used to have these in his signature as well and the money went to the Lymphoma Society as I recall. I'm as anti-vendor as the next guy when we're talking about pseudo-gurus selling false dreams for ridiculous sums to those of us afflicted with high hopes, but for the love of God, man, let's not let a well-founded, specific, and shared dislike of Gurus-for-hire turn into a general bashing of all forms of capitalism!

 

That being said, Brownie's launch on Tams is not all that different from a typical Urmablum attack on Brownie, so in the future, Brownie, it may not be a bad idea to count to 10 before you post, and ask yourself if it is worth the blight that comes with it. You know what "they" say, "If you can't say anything nice, don't say anything at all."

 

Best Wishes,

 

Thales

[macdfx 10]

For crying out loud, are we now going to start whining if someone gets paid 40 cents on an affiliate link?

If it's against the site's current TOS, yes. One user may have been granted an exemption by TL's previous owner in the past, apparently.

Brownie used to have these in his signature as well and the money went to the Lymphoma Society as I recall.

Supposedly. I don't think there was ever an audit or proof given to James (the old TL owner) that the funds ever reached their intended destination (with or without a "handling" fee).

I'm as anti-vendor as the next guy when we're talking about pseudo-gurus selling false dreams for ridiculous sums to those of us afflicted with high hopes, but for the love of God, man, let's not let a well-founded, specific, and shared dislike of Gurus-for-hire turn into a general bashing of all forms of capitalism!

At least one "guru" can show proof of his legitimate "donations" (and no, I'm not talking about that Woodie fellow neither).

 

 

 

More info here:

http://www.donmillereducation.com/ADAPressRelease.pdf

That being said, Brownie's launch on Tams is not all that different from a typical Urmablum attack on Brownie, so in the future, Brownie, it may not be a bad idea to count to 10 before you post, and ask yourself if it is worth the blight that comes with it. You know what "they" say, "If you can't say anything nice, don't say anything at all."

Indeed.

ADAPressRelease.pdf

Edited August 6, 2010 by macdfx
"If you can't say anything nice, don't say anything at all."

[Tams 20]

United States : Chairman Speech

 

Released For 8/27/2010 10:00:00 AM

 

Description

Federal Reserve Chairman Ben Bernanke speech on the economic outlook at the Kansas City Fed's annual Jackson Hole conference.

[Tams 20]

Friday Nov 5

 

Ben Bernanke Speaks

2:00 PM ET

 

Description

Federal Reserve Chairman Ben Bernanke discussion with college students at Jacksonville University.

 

 

also,

Pending Home Sales Index

12:30 PM ET

 

Consumer Credit

3:00 PM E

 

 

 

Economic Calendar - Bloomberg

[Tams 20]

Friday Nov 19

 

Ben Bernanke Speaks

5:15 AM ET

 

Market Focus »

 

United States : Chairman Speech

Released For 11/19/2010 5:15:00 AM

 

Description

 

Federal Reserve Chairman Ben Bernanke (FOMC Voting Member) speaks to the Sixth European Central Bank Central Banking Conference in Frankfurt, followed by a panel discussion.

 

Highlights

 

In prepared remarks released late Thursday evening (ET) for Friday presentations in Frankfurt, Germany, Fed Chairman Ben Bernanke spoke out in defense of the Fed's decision to engage in a second round of quantitative easing. He also called for greater coordination between countries to correct global imbalances. He implicitly took aim at China and other developing countries that have maintained undervalued currencies to support their domestic growth through exports. There are two sets of prepared remarks - one for a speech on "Rebalancing the Global Recovery" and one for a panel discussion.

 

The panel discussion remarks largely focus on why the Fed voted to engage in a second round of quantitative easing. The key concerns supporting further quantitative easing were high unemployment, long duration unemployment, and extremely low core inflation.

 

"In the United States, we have seen a slowing of the pace of expansion since earlier this year. The unemployment rate has remained close to 10 percent since mid-2009, with a substantial fraction of the unemployed out of work for six months or longer. Moreover, inflation has been declining and is currently quite low, with measures of underlying inflation running close to 1 percent. Although we project that economic growth will pick up and unemployment decline somewhat in the coming year, progress thus far has been disappointingly slow."

 

"In this environment, the Federal Open Market Committee (FOMC) judged that additional monetary policy accommodation was needed to support the economic recovery and help ensure that inflation, over time, is at desired levels. Accordingly, the FOMC announced earlier this month its intention to purchase an additional $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month."

 

In his main presentation, the Fed chief notes the very different degrees of recovery in emerging market economies versus advanced economies and that these differences call for different policy responses.

 

"International policy cooperation is especially difficult now because of the two-speed nature of the global recovery. Specifically, since the recovery began, economic growth in the emerging market economies has far outstripped growth in the advanced economies. These differences are partially attributable to longer-term differences in growth potential between the two groups of countries, but to a significant extent they also reflect the relatively weak pace of recovery thus far in the advanced economies."

 

"What is clear is that the different cyclical positions of the advanced and emerging market economies call for different policy settings. Although the details of the outlook vary among jurisdictions, most advanced economies still need accommodative policies to continue to lay the groundwork for a strong, durable recovery. Insufficiently supportive policies in the advanced economies could undermine the recovery not only in those economies, but for the world as a whole. In contrast, emerging market economies increasingly face the challenge of maintaining robust growth while avoiding overheating, which may in some cases involve the measured withdrawal of policy stimulus."

 

Bernanke's defense of QE2 does not provide much new insight in addition to the FOMC minutes and recent FedSpeak. However, his comments regarding foreign exchange hints that the biggest impact from QE2 may come not from a slight easing in longer-term interest rates but from a weaker dollar and its impact on U.S. manufacturing. But first, the Fed chief notes that some of the recent decline in the dollar is not related to the adoption of QE2.

 

"The foreign exchange value of the dollar has fluctuated considerably during the course of the crisis, driven by a range of factors. A significant portion of these fluctuations has reflected changes in investor risk aversion, with the dollar tending to appreciate when risk aversion is high. In particular, much of the decline over the summer in the foreign exchange value of the dollar reflected an unwinding of the increase in the dollar's value in the spring associated with the European sovereign debt crisis."

 

But he quickly goes to the heart of the matter - some developing economies are manipulating currencies, although he is not quite that blunt.

 

"The exchange rate adjustment is incomplete, in part, because the authorities in some emerging market economies have intervened in foreign exchange markets to prevent or slow the appreciation of their currencies."

 

Bernanke then lectures that truly flexible exchange rates give monetary authorities the freedom to pursue policies appropriate for their country but also supports long-term economic growth and stability. He notes that for the emerging market economies, a greater role for the consumer would make growth less volatile and more sustainable.

 

"It is instructive to contrast this situation with what would happen in an international system in which exchange rates were allowed to fully reflect market fundamentals. In the current context, advanced economies would pursue accommodative monetary policies as needed to foster recovery and to guard against unwanted disinflation. At the same time, emerging market economies would tighten their own monetary policies to the degree needed to prevent overheating and inflation. The resulting increase in emerging market interest rates relative to those in the advanced economies would naturally lead to increased capital flows from advanced to emerging economies and, consequently, to currency appreciation in emerging market economies. This currency appreciation would in turn tend to reduce net exports and current account surpluses in the emerging markets, thus helping cool these rapidly growing economies while adding to demand in the advanced economies. Moreover, currency appreciation would help shift a greater proportion of domestic output toward satisfying domestic needs in emerging markets. The net result would be more balanced and sustainable global economic growth."

 

The Fed chairman concludes that it is in the interests of emerging market economies that advanced economies have healthy growth.

 

"Because a strong expansion in the emerging market economies will ultimately depend on a recovery in the more advanced economies, this pattern of two-speed growth might very well be resolved in favor of slow growth for everyone if the recovery in the advanced economies falls short."

 

On an incidental note, Bernanke apparently does not like the phrase "quantitative easing" for technical reasons in that it is not exactly correct.

 

"Incidentally, in my view, the use of the term "quantitative easing" to refer to the Federal Reserve's policies is inappropriate. Quantitative easing typically refers to policies that seek to have effects by changing the quantity of bank reserves, a channel which seems relatively weak, at least in the U.S. context. In contrast, securities purchases work by affecting the yields on the acquired securities and, via substitution effects in investors' portfolios, on a wider range of assets."

 

The bottom line is that QE2 is clearly still on. Bernanke's presentations are probably two of his most forceful in terms of saying what he really thinks rather than being merely academic - though, of course, he stays in touch with academic and empirical foundation. While European debt worries have been on and off and could affect Friday's markets, Bernanke's comments support continued weakness in the dollar, likely spilling over into commodities (higher), and stocks (higher at least in the U.S.). But after such a strong day Thursday, it could either be some pullback in equities or it could be expectations of a weaker dollar boosting stocks.

 

 

Sources: A special thanks to Market News Int'l for providing the scheduling information for the speeches.

 

Event Information

[MadMarketScientist 11]

Fairly aggressive speech for Mr. Ben especially regards to China's policies. Markets definitely reacted at least earlier.

 

I do think it's amusing how many people are now covering the quantitative easing -- when you get the talking heads and politicians that love the spotlight weighing in on Fed policy like we've never seen before you know times have changed. I think people love the branding of this one "QE2" -- if it was called quantitative easing, etc... nobody talks about it. But, give it a cut acronym and it's all over the talking head news programs.

 

Branding!

[Tams 20]

Friday Jan 7

 

Ben Bernanke Speaks

10:00 AM ET

 

Description

Federal Reserve Chairman Ben Bernanke testifies to Senate Budget Committee on monetary and fiscal policy.

[MadMarketScientist 11]

I was proactive in my trading today -- for example in Crude I usually target about 0.25 for target and I took 0.15 instead, same on Natural Gas trading. That was how I approached it -- didn't avoid it - just reigned in expectations to try and get some quicker hits. As it turned out it traded fairly normally but hey, better to have a plan then lament being stupid later

 

MMS

[Tams 20]

Thursday Jan 13

 

Ben Bernanke Speaks

1:00 PM ET

 

 

 

Chairman Speech

Description

Federal Reserve Chairman Ben Bernanke on panel at FDIC forum on Overcoming Obstacles in Small Business Lending in Arlington, Va.

[Tams 20]

Wednesday Feb 9

 

 

 

Ben Bernanke Speaks

10:00 AM ET

 

Chairman Speech

 

Description

Federal Reserve Chairman Ben Bernanke testifies before House Budget Committee on economic, employment and budget issues in Washington.

[Tams 20]

Thursday Feb 17

 

Ben Bernanke Speaks

10:00 AM ET

 

 

Chairman Speech

Description

Federal Reserve Chairman Ben Bernanke (FOMC Voting Member) to testify before Senate Banking Committee on Dodd-Frank reforms, with SEC Chair Mary Schapiro, FDIC Chair Sheila Bair, and CFTC Chair Gary Gensler, in Washington.

 

Highlights

Chairman Bernanke's prepared comments were released Tuesday evening. He did not address either the status of the economy or monetary policy. He focused on how the Fed is helping to establish the new Bureau of Consumer Financial Protection (CFPB).

 

"The transfer of the Federal Reserve's consumer protection responsibilities specified in the act to the new Bureau of Consumer Financial Protection (CFPB) is well under way. A team at the Board, headed by Governor Duke, is working closely with the staff at the CFPB and at the Treasury to facilitate the transition. We have provided technical assistance as well as staff members to the CFPB to assist it in setting up its functions. We have finalized funding agreements and provided initial funding to the CFPB. Moreover, we have made substantial progress toward a framework for transferring Federal Reserve staff members to the CFPB and integrating CFPB employees into the relevant Federal Reserve benefit programs.

 

"One of the Federal Reserve's most important Dodd-Frank implementation projects is to develop more-stringent prudential standards for all large banking organizations and nonbank firms designated by the council. Besides capital, liquidity, and resolution plans, these standards will include Federal Reserve- and firm-conducted stress tests, new counterparty credit limits, and risk-management requirements. We are working to produce a well-integrated set of rules that will significantly strengthen the prudential framework for large, complex financial firms and the financial system.

 

"Complementing these efforts under Dodd-Frank, the Federal Reserve has been working for some time with other regulatory agencies and central banks around the world to design and implement a stronger set of prudential requirements for internationally active banking firms. These efforts resulted in the adoption in the summer of 2009 of more-stringent regulatory capital standards for trading activities and securitization exposures. And, of course, it also includes the agreements reached in the past couple of months on the major elements of the new Basel III prudential framework for globally active banks. Basel III should make the financial system more stable and reduce the likelihood of future financial crises by requiring these banks to hold more and better-quality capital and more-robust liquidity buffers. We are committed to adopting the Basel III framework in a timely manner. In December 2010, we requested comment with the other U.S. banking agencies on proposed rules that would implement the 2009 trading book reforms, and we are already working to incorporate other aspects of the Basel III framework into U.S. regulations.

 

"To be effective, regulation must be supported by strong supervision. The act expands the supervisory responsibilities of the Federal Reserve to include thrift holding companies and nonbank financial firms that the council designates as systemically important, along with certain payment, clearing, and settlement utilities that are similarly designated. Reflecting the expansion of our supervisory responsibilities, we are working to ensure that we have the necessary resources and expertise to oversee a broader range of financial firms and business models.

 

"The act also requires supervisors to take a macroprudential approach; that is, the Federal Reserve and other financial regulatory agencies are expected to supervise financial institutions and critical infrastructures with an eye toward not only the safety and soundness of each individual firm, but also taking into account risks to overall financial stability.

 

"We believe that a successful macroprudential approach to supervision requires both a multidisciplinary and wide-ranging perspective. Our experience in 2009 with the Supervisory Capital Assessment Program (popularly known as the bank stress tests) demonstrated the feasibility and benefits of employing such a perspective. Building on that experience and other lessons learned from the recent financial crisis, we have reoriented our supervision of the largest, most complex banking firms to include greater use of horizontal, or cross-firm, evaluations of the practices and portfolios of firms, improved quantitative surveillance mechanisms, and better use of the broad range of skills of the Federal Reserve staff. And we have created a new Office of Financial Stability within the Federal Reserve, which will monitor financial developments across a range of markets and firms and coordinate with the council and with other agencies to strengthen systemic oversight."

[Tams 20]

Wednesday Mar 23

 

 

Ben Bernanke Speaks

12:00 PM ET

 

Description

 

Federal Reserve Chairman Ben Bernanke speaks to the Independent Community Bankers of America in San Diego on "Community Banking in a Period of Recovery and Change."

[emg 12]

Wednesday Mar 23

 

 

Ben Bernanke Speaks

12:00 PM ET

 

Description

 

Federal Reserve Chairman Ben Bernanke speaks to the Independent Community Bankers of America in San Diego on "Community Banking in a Period of Recovery and Change."

 

I am curious. When are you going to post some trades?

[Tams 20]

Tuesday Jun 7

 

Ben Bernanke Speaks

3:45 PM ET

 

Chairman Speech

Description

Ben Bernanke (FOMC Voting Member) speech to the International Monetary Conference in Atlanta.

 

 

 

 

 

Bernanke may use ‘T’-word to describe weakness

 

By Steve Goldstein, MarketWatch

WASHINGTON (MarketWatch) — There’s no denying that May was a disappointing month for the U.S. economy.

 

Only 54,000 nonfarm jobs were created, the Labor Department has estimated, and a variety of regional and national manufacturing indexes have all seen sharp declines. See story on May jobs growth.

 

The first opportunity for Federal Reserve Chairman Ben Bernanke to address the recent weak data will be Tuesday afternoon at 3:45 p.m., when he delivers a speech on the "U.S. economic outlook” in Atlanta, Ga. to the International Monetary Conference.

 

The question is how gloomy Bernanke will be at the Ritz Carlton Buckhead. Chances are, the central banker isn’t going to be waving pom-poms but won’t be crying, either. Bernanke will take questions after his prepared remarks conclude.

 

“I don’t think we are going to hear alarm bells,” said Yelena Shulyatyeva, an economist for BNP Paribas in New York. “He may talk about recent weakness as being transitory or temporary.”

 

“Transitory” is a word Bernanke has frequently employed to describe the impact of rising commodity prices on inflation. He’s been somewhat vindicated in that analysis — oil CL1N -0.11% is now trading around $100 a barrel, rather than the roughly $115 it reached in April — and may use the pulpit to explain why, in his view, the economy in the latter part of 2011 may not be as limp.

 

full story here:

 

Bernanke may use

[pbylina 10]

How long is his speech usually? I want to try to trade it.

[Tams 20]

Monday Jun 13

 

Ben Bernanke Speaks

2:30 PM ET

 

Chairman Speech

Description

Federal Reserve Chairman Ben Bernanke speech at a conference on the debt ceiling and the budget in Washington.