USA: Markets await Bernanke comments for clues on U.S. growth

Record ID: 751652

  • Title: USA: Markets await Bernanke comments for clues on U.S. growth
  • Date: 13th August 2009
  • Summary: WASHINGTON, DC, UNITED STATES (AUGUST 11, 2009) (REUTERS) CHAIRMAN OF THE FEDERAL RESERVE BEN BERNANKE PULLING UP TO FEDERAL RESERVE IN CAR EXTERIOR OF FEDERAL RESERVE
  • Embargoed: 28th August 2009 13:00
  • Keywords:
  • Location: Usa
  • Country: USA
  • Topics: Finance
  • Reuters ID: LVABEGAHBXZHGK9KJR0G2OLT94GT
  • Story Text: Markets await Bernanke comments for clues on U.S.
    growth.
    Traders watch a two-day monetary policy meeting by the U.S.
    Federal Reserve.
    The U.S. Federal Reserve kicked off a two day policy meeting on Tuesday (August 11). While the Fed is likely to hold interest rates which are at a record low, traders will be watching Chairman Ben Bernanke's accompanying statement for clues on the direction of the U.S. economy.
    Better-than-expected economic data, a recovery in equity markets and the success of the government's 'Cash for Clunkers' programme to revitalise car sales are all boosting hopes the recession may be bottoming out in the United States.
    If Bernanke confirms this view, it could lift expectations interest rates will rise, which may benefit the dollar.
    Analysts say the U.S. unit has previously benefited from economic weakness as it is seen as a haven, but this trend may be turning.
  • Copyright Holder: REUTERS
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