Bernanke said that early on during the financial crisis, he and others at the Fed were perhaps too optimistic about the severity of the damage that the housing bust and bad lending would inflict on financial markets and the economy. He said the economic recovery was on the right path, that there were no signs of deflation, and that the Fed would be able to exit the bond buying stimulus plan that he initiated, so-called quantitative easing, with no damage to the economy. Others have worried about what will happen when the Fed has to unload all of its bonds.
Along with the speech, Bernanke attended a private dinner, hosted by Scaramucci, for conference attendees. Fortune has learned that hedge fund billionaire Leon Cooperman, General David Patraeus, and William Daley, the former White House chief of staff, attended the dinner, which was closed to the press.
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