Wednesday, Jan 23, 2008
Fed staves off one crisis, opens door to another
Times UK: Fed Establishes Another Baleful Landmark
Gerard Baker in the Times talking something vaguely approaching sense for once. His judgement is that even if the Fed cut had more justified reasons than a panicked reaction to a stockmarket drop, it is still going to be hard for Bernanke to retain credibility now:
"Mr Bernanke is going to have a hard time dispelling the notion that he did not engineer the Fed’s biggest interest-rate cut in a generation primarily in response to a swoon in equity markets"
Posted by an bearin bui @ 09:38 AM (132 views) Add Comment
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