Markets soar after Fed boss sees 'green shoots' of recovery
Tuesday 17 March 2009
Public figures in the US don't have their tongues cut out for saying they've seen "green shoots" of economic recovery. After Ben Bernanke, chairman of the Federal Reserve, uttered the phrase on television on Sunday night, stock markets soared.
The trick is confidence. President Barack Obama and his lieutenants spent their first weeks in office saying how gloomy everything was. That laid the blame with George Bush, but it added to the sense of fear that has paralysed business.
On CBS's 60 Minutes, Mr Bernanke was taken to Dillon, South Carolina, where he grew up. The last owners of his childhood home were foreclosed; his father's old drugstore would be unable to get a loan. I am bailing out Wall Street for one reason only, he said: to help towns like this. The "green shoots" he mentioned refer to the easing of pressure in the credit markets. Only if confidence holds will they start to poke through in places like Dillon.
- 1 Disney heiress Abigail disowns her share of family profits in West Bank company
- 2 The secret report that helps Israel hide facts
- 3 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 5 Ross Burden dead: MasterChef and Ready Steady Cook star dies at age 45 after suffering from cancer
'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
Richard Dawkins says 'date rape is bad, stranger rape is worse' on Twitter
Ross Burden dead: MasterChef and Ready Steady Cook star dies at age 45 after suffering from cancer
Zayn Malik on Israel-Gaza: One Direction singer bombarded with Twitter death threats after posting #FreePalestine
MH17 crash: Black boxes show plane suffered 'massive explosive decompression' following shrapnel hit
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
- < Previous
- Next >
£18000 - £22000 per annum, Benefits: Excellent Uncapped Commission Structure: ...
£18000 - £22000 per annum: Charter Selection: This exciting entertainment comp...
£300 - £350 per day + competitive: Progressive Recruitment: Ecommerce/Retail/E...
Competitive: The Green Recruitment Company: The Organisation: The Green Recrui...