Bernanke: It's all about jobs now

Dec 1, 2010 Read more: DispatchPolitics 29
From left, Curtis Moody of Moody-Nolan Architects, Samuel Palmisano of IBM, Federal Reserve Chairman Ben Bernanke and Dwight Smith of Sophisticated Systems address students at Ohio State University about the state of the economy and jobs. Read more
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olaf

Columbus, OH

#22 Dec 1, 2010
Good thing that we pay him the big bucks to inform us of such startling news.
howrad

Dry Ridge, KY

#23 Dec 1, 2010
Now it is all about jobs, why? This administration has ignored that problem so far, so why now?
Phil Proctor

Columbus, OH

#24 Dec 1, 2010
Ohio Jim wrote:
Congress will never mess with the Federal Reserve. Too bad Wikileaks doesn't have a source inside the Fed. That's the only way we'll ever find out what really goes on there.
We don't know that they don't have a source. Wikileaks just annouced a "mega leak" about a big American bank is coming in January. Bank of America's stock dropped 3% on the news.
Phil Proctor

Columbus, OH

#25 Dec 1, 2010
howrad wrote:
Now it is all about jobs, why? This administration has ignored that problem so far, so why now?
It's what you call a "slogan".
Ohio Jim

Columbus, OH

#26 Dec 1, 2010
Tomcat wrote:
If I hear one more idiotic Liberal say that Republicans ship jobs overseas I am going to puke.
I'm a life-long conservative, and I'm here to tell you that the Republicans are just as guily as Democrats for "sending jobs overseas". They BOTH sold us down the river.
jdh

Columbus, OH

#27 Dec 1, 2010
Dave in Lewis Center wrote:
Audit the FED! http://www.auditthefed.com/
End the FED!
They are the main reason we are in the mess. Americans are in for high inflation thanks to these Banksters.
Educate yourself on what the FED is and what their real goals are. They are not working for the best interests of the American people.
twice now my comment " *** the *** " has been removed
Patriot

AOL

#28 Dec 1, 2010
Ohio is going down a black hole.
Ohio Jim

Columbus, OH

#29 Dec 1, 2010
Phil Proctor wrote:
<quoted text>
We don't know that they don't have a source. Wikileaks just annouced a "mega leak" about a big American bank is coming in January. Bank of America's stock dropped 3% on the news.
Terrific. I can't wait. Let the sun shine in!
Larry

Bloomingburg, OH

#30 Dec 1, 2010
Does anyone really believe that adding another 600 billion dollars to the money supply will actually create jobs and speed up economic recovery. This is in addition to the 2 trillion dollars already added to the money supply since the financial crisis started. With the banks and industry reported to be setting on over a trillion dollars and interest rate already at record lows, even a economics professor would know that tight money and high interest rates is not the problem.

This printing of huge amounts of money has already trashed the value of the dollar, caused prices of essential commodities to sky rocket, and will certainly create rampant inflation when the economy does begin to recover. While Mr. Bernanke claims they will contract the money supply before inflation gets out of hand, the Fedís past performance would suggest that it will not have either the will or capability to stop it for years to come.

Obviously, the half of dozen or so of the nationís largest financial institutions would love to see several years of double digit inflation. It would allow them to write off all those toxic assets that they created and are still holding onto with lot less impact on their bottom line. Of course, this same inflation would be disastrous to the rest of the economy. It would be especially hard on seniors and others on fixed incomes as the purchasing power of both their income and modest savings would be devastated.

If there is one thing the new Congress should do when it convenes, it should reexamine the wisdom of allowing the Federal Reserve to establish the monetary policy for the nation. If nothing else, large increase in the money supply should require Congressional approval.

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