New Testimony, Statements, and Data on the Economy

From the New York Times: "A sense of economic gloom gripped Washington on Tuesday as President Bush urged Americans not to lose faith, the Federal Reserve chairman offered a mostly bleak assessment of the difficulties ahead for the economy, and the administration’s latest effort to help the housing sector faced tough questioning in Congress."

Federal Reserve Chairman Ben S. Bernanke presented the "Semiannual Monetary Policy Report to the Congress" to the Senate Committee on Banking, Housing, and Urban Affairs on July 15, 2008. The hearing webpage includes committee member statements, testimony from Chairman Bernanke, and archived video of the hearing.

The President held an unscheduled press conference yesterday to address issues with the economy, America's banks, and housing and financial markets. To accompany the press conference, the White House issued a new fact sheet on the economy.

Related to the closure of IndyMac Bank, the Federal Deposit Insurance Corporation (FDIC) website offers information about the program and deposit insurance.

There are several good government sources for tracking information about the economy:

EconomicIndicators.gov provides links to key indicators.

The Bureau of Labor Statistics offers information on inflation, employment rates, earnings, and price indexes.

The Bureau of Economic Analysis gathers data on such indicators as GDP and personal income.

Source: Weisman, S. (16 July 2008). "Fed Chief Bleak on Economic Outlook." New York Times.