Wednesday, November 10, 2010
How Bernanke-bashing is good news
Dr. Ben Bernanke has received his fair share of criticism from many types of people. This article argues that this is a good thing. As Bernanke is criticized by those who hold doctorates, "average Joes," and everyone in between, it shows that he is being creative. The FED has specific goals that it is designed to meet. Obviously it cannot please everyone, but it must satisfy these goals to ensure a healthy economy.
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It seems like some of the criticism is taking a toll... He was recently defending the FED's decision for another round of 'quantitative easing' and he was visibly and audibly agitated at the criticism. He seemed to be upset that political considerations were being pushed to the forefront, as opposed to what needs to occur in the still struggling economy.
ReplyDeleteI would view this as a positive sign that his primary focus is repairing the economy opposed to simply trying to appease the powers that be.
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