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Bernanke's Bleak Outlook Could Send Dollar to New Lows

Posted on July 15, 2008

Fed chief Bernanke s testimony before the US Senate Banking Committee today has indeed sparked off big moves in forex and stock markets, as I warned yesterday. Unlike previous testimonies, Bernanke didn t mince his words that much this time, saying that there are significant downside risks to the outlook for growth and upside risks to the inflation outlook have intensified. His much-anticipated speech came hot on the heels of the aid given by the US government and the Fed to Freddie Mac (FRE) and Fannie Mae (FNM). Bernanke also said that helping the financial markets return ...

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