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| English: President Barack Obama confers with Federal Reserve Chairman Ben Bernanke following their meeting at the White House. (Photo credit: Wikipedia) |
- "The Federal Reserve's price stability record is excellent, and we are fully committed to maintaining it."
- "I'm confident that we have the necessary tools to withdraw policy accommodation when needed, and that we can do so in a way that allows us to shrink our balance sheet in a deliberate and orderly way."
- "The best and most comprehensive solution" to concerns about how QE affects savers "is to find ways to a stronger economy. Only a strong economy can create higher asset values and sustainably good returns for savers."
- "I sometimes hear the complaint that the Federal Reserve is enabling bad fiscal policy by keeping interest rates very low and thereby making it cheaper for the federal government to borrow. I find this argument unpersuasive. The responsibility for fiscal policy lies squarely with the Administration and the Congress."
Earlier: This is a big week for economic data, culminating with Friday's jobs report, and a huge week for U.S. politics, highlighted by Wednesday's Presidential debate.
These issues will dominate headlines but it's also a very big week for central bankers. Along with the European Central Bank, the central banks of England, Japan and Australia host scheduled meetings, while Ben Bernanke is giving a speech Monday and the minutes of the Fed's September meeting are due on Thursday.
It was at the September meeting when the Fed announced plans to buy up to $40 billion of mortgage-backed securities per month until the employment situation improves "substantially." ... Continue to read.
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