WASHINGTON (MNI) – The following is an excerpt from Federal Reserve
Chairman Ben Bernanke’s comments Wednesday during a press conference
following the FOMC policy decision announcement:
Question from Market News International:
Do you have a trigger of unemployment or inflation at which you
would begin the exit process and if you do would it make sense to
announce it? If not, why not?
Bernanke:
It’s impossible to create a statistical trigger because we have
currently 17 independent members of the FOMC, each has his or her view
on the outlook of the efficacy of monetary policy and on the risks to
inflation and unemployment.
So we don’t have any such formula.
We have staff produce various scenarios which give an indication
of, given their projections, of where the most likely points for a
beginning of an exit would be. But as I said earlier, when I was asked
about my own projections, those are very tentative, depend on a lot
happening and depend on the forecasts evolving as expected, and are
certainly subject to change as new information comes in.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MMUFE$,MGU$$$,MFU$$$,MT$$$$]
