briefing from the Bernanke's testimony
1. Subprime market: contrusting more, but demand low; somemore, some of them may incur bad morgage loan.
2. Credit concern: condition go worse; suggest higher credit control for cards, morgage loan...etc
3. Inflation: Consumer Price Index up 4.4% over last 5 months, which is too high for Feb's point of view. the major factors : increase food price and commodity price; while the consumption is up in a moderate pace.
now is the Q&A session:
1. the chairman of House Financial Services CMTE: very fiercely questioned bernanke about the income gap; and somemore, the declined income for low qualified worder and middle class.
Bernanke hardly answered it!!!
2. a Rep from CMTE: ask how to reduce Energy cost, which affects the food price a lot, hence the inflation.
Bernanke had not proper answer.
3. black Rep ask for equal oppotunity in education.
Bernanke cannot satisfy that Rep. (think this is some how political issues)
4. ....employment issues..
5. ask for stringent licensing for the loaner or housing broker from banks....
6. tax on capital gains...
Bernanke hardly answered it!!!
荆馥进
continue Q&A (live in CNBC)
7. Rep Luis: talking about his daughter's debt condition in youong age, which is trying to criticize Feb's monetary policy. then talk about the immigrants workers's impact on US economy. now talk about currency exchange rate issue, especially the chinese RMB's rate!
bernanke has not really lightenly answer