By |Published On: July 16th, 2013|Categories: Uncategorized|

Fed Chairman Ben Bernanke delivered his testimony on July 18, 2007.

“Overall, the U.S. economy appears likely to expand at a moderate pace over the second half of 2007 with growth then strengthening a bit in 2008 to a rate close to the economy’s underlying trend…..The central tendency of the growth forecast, which are conditioned on the assumption of appropriate monetary policy, is for real GDP to expand roughly 21⁄4 to 21⁄2 percent this year and 21⁄2 to 23⁄4 percent in 2008……The unemployment rate is anticipated to edge up between 41⁄2 and 43⁄4 percent over the balance of this year and about 43⁄4 percent in 2008”

Real GDP QoQ%gdp

Unemployment Rategdp2

Mr. Ben is going to give some more projections tomorrow…
Fed’s Bernanke Delivers Semi-Annual Policy Report to House
Date and Time 07/17/2013 08:30
Federal Reserve Chairman Ben S. Bernanke delivers his semi-annual monetary policy report to Congress before the House Financial Services Committee, followed by questions from lawmakers. His prepared testimony will be released at 8:30 a.m. and the hearing will begin at 10 a.m. 
Should we Trust his words this time?

About the Author: Wesley Gray, PhD

Wesley Gray, PhD
After serving as a Captain in the United States Marine Corps, Dr. Gray earned an MBA and a PhD in finance from the University of Chicago where he studied under Nobel Prize Winner Eugene Fama. Next, Wes took an academic job in his wife’s hometown of Philadelphia and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management firm dedicated to an impact mission of empowering investors through education. He is a contributor to multiple industry publications and regularly speaks to professional investor groups across the country. Wes has published multiple academic papers and four books, including Embedded (Naval Institute Press, 2009), Quantitative Value (Wiley, 2012), DIY Financial Advisor (Wiley, 2015), and Quantitative Momentum (Wiley, 2016). Dr. Gray currently resides in Palmas Del Mar Puerto Rico with his wife and three children. He recently finished the Leadville 100 ultramarathon race and promises to make better life decisions in the future.

Important Disclosures

For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Third party information may become outdated or otherwise superseded without notice.  Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency has approved, determined the accuracy, or confirmed the adequacy of this article.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Alpha Architect, its affiliates or its employees. Our full disclosures are available here. Definitions of common statistics used in our analysis are available here (towards the bottom).

Join thousands of other readers and subscribe to our blog.