Bernanke: Fiscal Policy Too Focused on Short Run

July 17 (Bloomberg) -- Federal Reserve Chairman Ben Bernanke speaks during testimony before the House Financial Services committee.
China’s Official Factory Gauge Shrinks
34:51 - China’s Purchasing Managers’ Index fell to the lowest reading in three years as monetary easing failed to revive old growth drivers weighed by overcapacity and sliding prices. The figure was 49.7 for August, matching the median estimate in a Bloomberg survey and down from 50 in July. Meanwhile, Australia left interest rates unchanged as a declining currency cushions the impact of lower commodity prices and a weaker outlook for its key trading partner.
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