Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

BlackRock’s Koesterich Says Bernanke’s Comments Were as Expected

Aug. 26 (Bloomberg) -- Russ Koesterich, the San Francisco-based global chief investment strategist for the IShares unit of BlackRock Inc., comments on U.S. Federal Reserve Chairman Ben S. Bernanke’s statement today in Jackson Hole, Wyoming.

Bernanke said the central bank still has tools to stimulate the economy. He didn’t provide details or signal when or whether policy makers might deploy them. Koesterich, whose firm oversees $3.66 trillion, spoke in a telephone interview.

“This is pretty much what we expected. At least, the market can stabilize. It’s a very different circumstance from last year when you had the threat of deflation. You lost that economic rationale for another round of quantitative easing. You have a case where interest-rates are very low. It was not clear what the Fed expanding their balance-sheet would do in the near-term.

“The economic data points are likely going to continue to be weak, but the market already knows that. If you have period when economic data is poor, but not as bad as people expect, you can actually see some relief in the market.”

To contact the reporter on this story: Rita Nazareth in New York at

To contact the editor responsible for this story: Nick Baker at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.