Nov 07 2007
Bernanke to Address Congress
(Imagine the following Lol Quote: “Dude, ur economies–deh iz groovy.”)
Federal Reserve Chairman Ben Bernanke is going to throw down in front of Congress Thursday and say why he thinks the risks of inflation and the risk to growth are balanced, MSN reports.
The speech will come a day after Gov. Mishkin told the House Small Business Committee that although market conditions have improved during the last several weeks from “rapid deterioration” in August, “problems could spill over to the market for small business loans,” according to a report by The Washington Post. Catch the YouTube video of his address here.
From the W.Post: He said about 37 percent of small business loans in 2003 were collateralized by real estate assets and 15 percent was secured with personal real estate. “Looking forward, a reduction in the value of their real estate assets clearly has the potential to substantially affect the ability of those small businesses to borrow.”
The Fed is still exploring the link between real estate and business. Might make for an interesting thesis topic for someone.
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