Ben Bernanke spoke very briefly with CNBC’s Steve Liesman ahead of his four lectures this week to talk about the context of the recent financial crisis. Mr. Bernanke said that the economy is still very challenging. He noted that the longer term prospects for the economy are good and that things will eventually normalize. Liesman noted that a recent survey indicated that the FOMC won’t be able to hold out to that late-2014 policy for exceptionally low interest rates. Bernanke said his discussions will be about history and economics. He did not really say much about a new version of quantitative easing nor about a new version of operation twist.
The long and short, we have no reason to believe that Ben Bernanke will reveal anything incredibly new about his stance.
JON C. OGG
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