me parece (com o benefício do acompanhamento da reação dos mercados) que o Bernanke vem fazendo um belo trabalho de administração de expectativas, que é, na minha muito humilde e leiga opinião, a maneira mais eficiente de fazer política monetária.
na fala de hoje, além de reconhecer seu papel, ele admite que a recuperação ficou aquém de suas metas:
" Monetary policy must be responsive to changes in the economy and, in particular, to the outlook for growth and inflation. As I mentioned earlier, the recent data have indicated that economic growth during the first half of this year was considerably slower than the Federal Open Market Committee had been expecting, and that temporary factors can account for only a portion of the economic weakness that we have observed. Consequently, although we expect a moderate recovery to continue and indeed to strengthen over time, the Committee has marked down its outlook for the likely pace of growth over coming quarters."
mas não deixa a turma desamparada, e mantém-se firme quanto a existência de alternativas que serão usadas na eventualidade de serem necessárias. pode ser mesmo em setembro...:
"In addition to refining our forward guidance, the Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits and costs of such tools at our August meeting. We will continue to consider those and other pertinent issues, including of course economic and financial developments, at our meeting in September, which has been scheduled for two days (the 20th and the 21st) instead of one to allow a fuller discussion. The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate to promote a stronger economic recovery in a context of price stability."
por fim, após ter chamado os políticos para a responsabilidade, mostra confiança e reafirma que fará o que tiver que ser feito.
"Economic policymakers face a range of difficult decisions, relating to both the short-run and long-run challenges we face. I have no doubt, however, that those challenges can be met, and that the fundamental strengths of our economy will ultimately reassert themselves. The Federal Reserve will certainly do all that it can to help restore high rates of growth and employment in a context of price stability."
o cara não fugiu da responsabilidade, ainda não queimou qualquer opção, e nem as descartou.
na fala de hoje, além de reconhecer seu papel, ele admite que a recuperação ficou aquém de suas metas:
" Monetary policy must be responsive to changes in the economy and, in particular, to the outlook for growth and inflation. As I mentioned earlier, the recent data have indicated that economic growth during the first half of this year was considerably slower than the Federal Open Market Committee had been expecting, and that temporary factors can account for only a portion of the economic weakness that we have observed. Consequently, although we expect a moderate recovery to continue and indeed to strengthen over time, the Committee has marked down its outlook for the likely pace of growth over coming quarters."
mas não deixa a turma desamparada, e mantém-se firme quanto a existência de alternativas que serão usadas na eventualidade de serem necessárias. pode ser mesmo em setembro...:
"In addition to refining our forward guidance, the Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits and costs of such tools at our August meeting. We will continue to consider those and other pertinent issues, including of course economic and financial developments, at our meeting in September, which has been scheduled for two days (the 20th and the 21st) instead of one to allow a fuller discussion. The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate to promote a stronger economic recovery in a context of price stability."
por fim, após ter chamado os políticos para a responsabilidade, mostra confiança e reafirma que fará o que tiver que ser feito.
"Economic policymakers face a range of difficult decisions, relating to both the short-run and long-run challenges we face. I have no doubt, however, that those challenges can be met, and that the fundamental strengths of our economy will ultimately reassert themselves. The Federal Reserve will certainly do all that it can to help restore high rates of growth and employment in a context of price stability."
o cara não fugiu da responsabilidade, ainda não queimou qualquer opção, e nem as descartou.
Ou seja, está fazendo um trabalho de assistente de psicanalista em sessões de terapia de grupo.
ResponderExcluirPra quem gosta e acredita é um prato cheio.
eu não conheço o trabalho do tal assistente, tampouco entendi o que você quis dizer com acreditar, mas o trabalho de um banqueiro central é de convencimento, com ações e/ou palavras. nas últimas semanas, dado o saldo altamente negativo de notícias, o Bernanke tem segurado a onda.
ResponderExcluirdá um pulo no blog do Kleber S. (link ali do lado), ele tem uma visão bem cética quanto ao Bernanke e a competência de autoridades de forma geral, de repente você se identifica e, no mínimo, se diverte.
abs,