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Friday, January 11, 2008

Federal Reserve Chairman Ben Bernanke's speech on financial markets

January 11 2008
Full transcript of Federal Reserve Chairman Ben Bernanke's speech on "Financial Markets, the Economic Outlook, and Monetary Policy" in Washington, D.C. on Jan. 10, 2008

Following a period of aggressive risk-taking, the subprime crisis has led investors to reassess credit risks more broadly and, perhaps, to become less willing to take on risks of any type. Also, investors have been concerned that, by further weakening the housing sector, the problems in the subprime mortgage market may lead overall economic growth to slow. The subprime crisis has contributed to a considerable increase in investor uncertainty about the appropriate valuations of a broader range of financial assets, not just subprime mortgages.

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