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Bernanke To Appear On 60 Minutes

Thursday, December 2, 2010 - 7:51 PM
Bernanke is trying his best to explain QE2. He'll be appearing for the second time on CBS's 60 Minutes this Sunday (12/05/2010). From the 60 Minutes webpage:
The chairman of the Federal Reserve Ben Bernanke gives a rare interview to Scott Pelley in which he discusses pressing economic issues, including the unemployment rate, the deficit and the Fed's controversial $600 billion U.S. Treasury Bill purchase.

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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Saturday, December 4, 2010 - 12:03 PM
I can't wait. I don't expect anything surprising out of the interview. As usual one must have their Fedspeak dictionary handy in order to interpret the gobbledygook that a Fed Chairman speaks in. The only thing I wish Scott Pelley would ask Bernanke is how he feels about destroying the hopes and expectations of senior citizens, who depended on insured CDs and other deposit accounts to augment their meager Social Security, by driving interest rates to, for all practical purposes, zero. Does Ben sleep good at night?
3
PurplesagePurplesage25 posts since
Oct 11, 2010
Rep Points: 73
2. Saturday, December 4, 2010 - 1:32 PM
Just watched CNN's "Your Money." They stated that 9 trillion was given in overnight loans before the recession of 2008 to many business operations such as Harley Davison so that payroll could be met.

It is sad for us savers to get such low interest rates on our savings and our CD's but at least we have our savings to meet our expenes if needed. That is why we saved.  We also have income from Social Security and we have Medicare. Many of the unemployed have no savings left and no monthly income of any kind and many have no health insurance. My husband was put on disability in 1995 and we still live on our social security only. Am very thankful for Medicare.  
3
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,658
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