Browsing: Money and Banking
The media have been buzzing with speculation over the next chairman of the Federal Reserve. Wall Street wants the easy money party to continue forever. Larry Summers does not, according to Stephen Gandel at CNN Money.
Bernanke didn’t say anything surprising today. He rarely does. His job is to babysit fussy investors and deflect inquiries from his incompetent congressional overseers, being as obtuse as possible over the details. You may want to keep in mind, however, that this particular central bank has been wrong about its GDP forecasts for much of the last decade.
"Stimulus" comes with a web of messy side effects.
OK. Maybe his language isn’t as strong as we would like to hear, but still encouraging.