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Bernanke Concerned about Weak Dollar, Inflation

Posted on June 03, 2008

From Fed Chairman Ben Bernanke: Remarks on the economic outlookOn the sources of the financial turmoil: Although the severity of the financial stresses became apparent only in August, several longer-term developments served as prologue for the recent turmoil and helped bring us to the current situation.The first of these was the U.S. housing boom, which began in the mid-1990s and picked up steam around 2000. Between 1996 and 2005, house prices nationwide increased about 90 percent. During the years from 2000 to 2005 alone, house prices increased by roughly 60 percent--far outstripping the incr...

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economy , foreign exchange , housing , inflation , markets , oil