The insistence of new Fed Chairman Bernanke of constantly having someone from the Federal Reserve make some statement each day has roiled investors and the market. Now many on Wall Street are asking for a moment of silence----and are further asking for there to be just one spokesperson for the Federal Reserve.
Over the past months, with the new Federal Chief Bernanke, the market has looked somewhat similar to 1987 when then a new Fed Chief railed at Germany for actions on their currency. That unsteady rhetoric has been widely claimed to have triggered the market crash.
The notion by Mr. Bernanke that he will keep tightening interest rates---- till the Iranians get it or till energy prices come down---also reflects the out of touch analysis of the Federal Reserve.
Click on the post for the article today in USA Today.
Friday, June 16, 2006
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