... and the market agrees completely ... as the aptly named POSX passes the critical support of 72, and then rolls over and really dives
Posted on 04/21/2011 8:45:50 AM PDT by TigerLikesRooster
Bernanke to Open Up as Fed Embarks on Era of Glasnost
Next Wednesday, Federal Reserve Chairman Ben Bernanke will do something no Fed chief has done before: Stand before a room full of journalists after officials conclude a policy meeting and answer questions about the central bank's decisions.
Washington churns out press conferences the way Kansas cranks out wheat. But this briefing will carry more import than most: Mr. Bernanke has been on a campaign since taking the helm of the Fed in 2006 to make it more transparent and consensus-driven. The financial crisis severely shook public confidence in the Fed, the economy has recovered unevenly since then, and Mr. Bernanke faces disagreement on his own policy-making committee.
Inflation is climbing, in large part due to surging food and energy prices. Unemployment remains high and economic growth disappointed in the first quarter. Mr. Bernanke seems intent on leaving the central bank's ultralow-interest-rate policy in place for now, but he faces vocal opposition in his ranks.
(Excerpt) Read more at online.wsj.com ...
P!
That's like saying that you have cancer because of various lumps under your skin. Rising prices are the symptom of the creation of too much money - not the cause.
Also, I would much rather have a full, independent audit of the Fed rather than a press conference.
To do that, you first need to do a regime change.:-)
... and the market agrees completely ... as the aptly named POSX passes the critical support of 72, and then rolls over and really dives
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