Bernanke’s disappointing speech (but the stock market loved it)

posted by
August 28, 2011
The American Prospect
by Robert Kuttner  
Posted in Commentary, PND Commentary

"Federal Reserve Chair Ben Bernanke’s closely watched annual speech at this morning’s session of the Fed’s Jackson Hole Conference is a good illustration of why Thomas Carlyle referred to economics as the dismal science. Chairman Bernanke was doubly dismal, not just as an economic pessimist but as a political coward. Bernanke’s assessment of the economy was typically qualified with on-the-one-hand-this, on-the-other-hand-that, to reassure financial markets. But worse, it was gutless in terms of the proposed solutions to the crisis." (08/26/11)  

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