Bernanke's Testicles Are Not That Big
Over at his own blog, Paul Krugman answers the question I asked here three weeks ago. Here are the money quotes:
...what we actually got was action that was pretty obviously calculated to be the absolute least the Fed could do without generating headlines saying “Fed ignores weak economy”.
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I’m sorry, but this looks like pure concession to political intimidation — a Fed refusing to do anything that would let Republicans accuse it of helping Obama.
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Maybe he could borrow
Maybe he could borrow Volcker's. Of course, that might make the Bernanke do something he doesn't want to do, like enforce regulations or tell Congress to put up or shut up. The big fail here is Congress, doing bupkis and letting Bernanke take the heat.
@ Stan, I could not have
@ Stan, I could not have said it better, and we should throw in the President and both houses of congress. Talk about a huge failure in leadership.