Bernanke Finally Grows A Pair, Finally
September 16th, 2008 . by glendeanThank you Ben Bernanke and the Fed for not “coming to the rescue”. This correction, like all corrections, needs to happen. It’s a good thing, and yes “This Too Shall Pass“.
Inflation is down. The dollar is up. As a result, crude oil is down. Another drop in the Fed funds rate would have put a halt to this good news.
I have been highly, I mean highly critical of Mr. Bernanke’s performance. But now I finally get to praise him. Keep it up Ben. Remember, your job is to fight inflation, not micromanage the American ecnonomy and bail out big wigs.
After writing that post, I go somewhere and hear on the radio that the Fed is “loaning” money to AIG. Oh Lord. Bernanke still sucks.