Tim Iacono submits: Not that anybody probably cares, with all the many other more important world events in the news such as the disaster in Japan, the bloodshed in North Africa, the unrest in the Middle East, the resurgence of the credit crisis in Europe, and the myriad of festering problems in the U.S., but Fed Chief Ben Bernanke’s first interest rate cut
Tim Iacono submits: Well, at least someone in the mainstream financial media has an idea about why Fed chief Ben Bernanke’s comments about gold last week were at the same time so fascinating and so alarming.
WASHINGTON — The U.S. Federal Reserve should give the economy the stimulus it needs despite “credible” worries that its aggressive bond-buying program could destabilize the financial system, Fed Chairman Ben Bernanke said on Thursday.
In his last planned public remarks as head of the central bank, Bernanke said concern about the potential harm to financial stability is the only risk from unconventional monetary policies “that I find personally credible.”
Given his track record, Alan Greenspan's publication of a guide to economic forecasting will likely prove as successful as Lance Armstrong's guide to drug-free cycling. As Bloomberg reports, Greenspan's new book "The Map and the Territory" is about as credible as art history by Mr.