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Hilbroy Advisory: GOP Candidates Set Sights on Fed
Hilbroy Advisory: GOP Candidates Set Sights on Fed
The Federal Reserve, already under fire from Congress and finance officials around the world, is now coming under sustained attack by Republican presidential candidates.
Montreal,
Quebec,
Canada
(prbd.net)
23/06/2011
Montreal, Quebec, June 22nd, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: The Federal Reserve, already under fire from Congress and finance officials around the world, is now coming under sustained attack by Republican presidential candidates.
In the latest salvo, former House Speaker Newt Gingrich is expected to call Wednesday in Atlanta for a "dramatically limited Federal Reserve." In the text of his comments released in advance, he criticizes the U.S. central bank for not staying focused on the strength of the dollar and for lending money to subsidiaries of foreign banks during the financial crisis.
GOP presidential candidates are blaming the Fed's easy-money policies for creating an array of ills, including a weaker dollar and more inflation. Tim Pawlenty, a former Minnesota governor, has called for Fed Chairman Ben Bernanke to step down. In a speech this month, he went after Mr. Bernanke's policies, saying, "No more quantitative easing. No more monetizing debt. No more printing money with reckless abandon."
Michele Bachmann, a Republican congresswoman from Minnesota, has attacked the Fed for weakening the value of the dollar and has supported a proposal by fellow candidate Rep. Ron Paul to subject the Fed to outside audits that Mr. Bernanke opposes. Mr. Paul has made abolishing the central bank a centerpiece of his presidential runs. Mitt Romney, the former Massachusetts governor, has been less critical.
In the 1990s, the Fed was revered. But its central role before, during and after the financial crisis has damaged its standing and has forced it to defend itself to the public. These days, the Fed's policy of keeping interest rates at ultra-low levels a bid to support the weak economy is blamed by some for sapping the interest earnings of retirees, pushing down the value of the dollar and contributing to higher commodities prices.
In a spirited defense of the Fed's interest-rates policies last year, Mr. Bernanke rejected the idea that low short-term interest rates caused the housing bubble. And low rates are needed now, the Fed has argued, to prevent an even deeper recession.
Fed critics are especially upset about the dollar's decline. The currency has been on a downward course since 2002. Then, many manufacturers attacked the Bush administration for keeping it too strong and hurting their export competitiveness. When measured against a broad basket of currencies among U.S. trading partners, the dollar is down 26% since 2002.
In the text of his comments, Mr. Gingrich accuses the Fed of supporting Libya during the financial crisis. A New York subsidiary of Bahrain-based Arab Banking Corp. was among many foreign banks the Fed lent to during the crisis to prevent a global financial meltdown. The Libyan government has a large stake in the bank, though Fed officials have said most of the stake was purchased by Tripoli after the bank's loans from the Fed were repaid. A Fed spokeswoman declined to comment.
Mr. Bernanke was first nominated to become Fed chairman by former president George W. Bush in 2005, and he served as an economic adviser to the former president. A Republican victory in the 2012 elections would likely mean a new Fed chairman when Mr. Bernanke's term is up in 2014, though it isn't clear Mr. Bernanke would want another term even if he was offered one.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
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All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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