Bernanke On 60 Minutes Tonight
If you miss the interview, it will be available after tonight at the link above. It should be very interesting. The interview is likely some attempt at explaining policy and some level of transparency in an odd sort of way. That's really somewhat of a paradox. But, in order to build some type of consensus and confidence for policy he will likely try to explain what the Fed is doing.
I actually like Bernanke and think he's a genuine bureaucrat. I don't use that word in a derogatory fashion but in a true sense of the word. He is a bureaucrat. He serves an ideology whether it is right or wrong. And, that is what he is elected to do. I obviously don't like the helter-skelter approach the Federal Reserve is using to deal with this crisis. And, think some of Bernanke's beliefs are inaccurate. That could ultimately cause severe structural damage to the economy beyond what is already evident - a major reason why such a pseudo science should never be put into the hands of a single person or a small group of people.
I actually like Bernanke and think he's a genuine bureaucrat. I don't use that word in a derogatory fashion but in a true sense of the word. He is a bureaucrat. He serves an ideology whether it is right or wrong. And, that is what he is elected to do. I obviously don't like the helter-skelter approach the Federal Reserve is using to deal with this crisis. And, think some of Bernanke's beliefs are inaccurate. That could ultimately cause severe structural damage to the economy beyond what is already evident - a major reason why such a pseudo science should never be put into the hands of a single person or a small group of people.
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