August 27, 2010

Buy a clue, Bernanke

Fed Chairman Bernanke gave a wishy-washy speech today.

Bernanke disputed the notion that the Fed is out of ammunition, saying in his speech that “should further action prove necessary, policy options are available to provide additional stimulus.”
Er, Ben? With unemployment at 9.5% and possibly rising, why don't you think further action is necessary? Part of your mission is, after all,
conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment.
So why aren't you trying to get to maximum employment?

Krugman has more.

Posted by Linkmeister at August 27, 2010 01:06 PM | TrackBack
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