RMR Wealth Management Blog

Fed Chief Bernanke Q&A bullets by Ryan C. Rogers, RMR Wealth Management

RMR Wealth Management - Tuesday, July 17, 2012



:NY FED was aware of banks under reporting to improve strength of bank.Not aware traders collaborating for profit until reported

: Will not endorse a specific spending program. But is recommending a plan that does reduce spending over time.

: Fiscal shock analysis of all 2001/2003 tax cuts. Not just tax increase on 250k+ earners.

: The world is in an easing period. FED not only central bank using these methods.

:Global slowdown emanating from Europe. Slowing in Asia as well. Global economy slowing. Not nearly as bad as the crisis period.

: Try to create favorable tax, credit and regulatory environment to help start ups. Does not have a program to suggest how.

: Start Ups are a generator of new jobs/employment. Lack of credit availability may be having negative impact.

: EU trying to establish angle bank regulator. Could take well into next year to accomplish.

: his major economic concern for US. 2 issues: 1.EU debt issue (hopes EU solves it) and 2.Fiscal cliff. (Hopes congress solves it)

: could change LIBOR from reported rate to openly traded...would be very difficult to transition

: Less conventional tools available for FED to meet dual mandate, but has other tools.

: tells to take whatever actions warranted to encourage employment and economic growth while keeping inflation low.

: putting off fiscal cliff would be very bad. (Don't kick can down the road)

: seriously concerned fiscal cliff spending reductions and tax code will be negative

: Household spending growth continues, may be slowing. (yesterdays retail sales numbers might be a hint of SLOWING)

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