OLD Media Moves

Bartiromo moves the market

May 2, 2006

CNBC business journalist Maria Bartiromo moved the market on Monday with her interview with Fed chairman Ben Bernanke, who noted that the media had misinterpreted his comments.

The Street.com markets columnist Liz Rappaport repoted, “The CNBC personality reported that the Fed chief said markets were ‘wrong’ to react to his congressional testimony last Thursday as necessarily telegraphing a pause in June. She reported that Bernanke said it is ‘worrisome’ that people don’t see him as an ‘aggressive inflation fighter,’ and claimed that his comments had been designed to create flexibility — not cement faith in the one-and-done scenario.

“‘I think the market is getting used to Mr. Bernanke in his new role,’ said Jack Malvey, chief global fixed-income strategist at Lehman Brothers.

“The remarks, supported by subsequent comments by Chicago Fed President Michael Moskow, called back into question whether or not the Fed will take a breather after raising the fed funds rate in May 10, or hike again to 5.25%.”

Read the rest of Rappaport’s story here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.