Paul Krugman is now so far into outer space with ridiculous economic proposals that even Helicopter Ben Bernanke recognizes Krugman's proposals as "reckless".
Bloomberg reports Bernanke Takes On Krugman’s Criticism Ignoring Own Advice
Federal Reserve Chairman Ben S. Bernanke took on Nobel prize-winning economist Paul Krugman yesterday and called his advice to reduce unemployment by boosting inflation “reckless.”
Haruhiko Kuroda showed Wednesday he’s following in the footsteps of Ben Bernanke and Mario Draghi as he swung the Bank of Japan from incremental moves to unprecedented stimulus at the governor’s first policy meeting.
The BOJ will double the monetary base by the end of 2014 through buying government bonds, the central bank said in Tokyo, in Japan’s biggest round of quantitative easing. JPMorgan Chase & Co. said the Japanese and U.S. central banks are now “in the same camp” when it comes to monetary stimulus.
The Fed's Jackson Hole, Wyoming symposium is one of the most sacred of annual Fed meetings: it is here that the Fed has historically hinted at any and all upcoming episodes of major monetary experimentation. As such, presence by the high priests of global monetarism is not only compulsory, it is a circular stamp of approval of the Fed's ongoing status quo-preservation capabilities.
On Sept. 13, the Federal Reserve’s Federal Open Market Committee (FOMC) announced it will launch an open-ended third round of quantitative easing (QE3) to help spur economic growth and boost hiring. The move came days after the European Central Bank unveiled its own much-anticipated bond-buying program aimed at ameliorating the European debt crisis. The actions of the Fed and the ECB show that, four years after the financial crisis of 2008, central banks are firmly in charge of the global economic agenda.
By Ed Liston:
Federal Reserve Chairman Ben Bernanke delivered what the markets yearned for, another round of quantitative easing.At the end of its two-day meeting on Thursday, the Fed announced the launch of a new bond buying program. This is the third round of bond buying program that the Fed has implemented in its efforts to stimulate the U.S. economy. QE3, as the new bond buying program is popularly known as, is the Fed's most aggressive stimulus program since the financial crisis of 2009.