Each time Ben Bernanke testifies before Congress, his job gets more difficult. Firmly ensconced between a rock and a hard place, Bernanke must defend the drastic measures he is taking while denying any extreme concerns that he might have.
No doubt about it, Fed Chairman Ben Bernanke's use of well over $2 trillion in Fed funds did help push higher the price of many securities, especially those in natural resource or commodity businesses.
Santa Bernanke's gift bag for equity lovers meant that bondholders -- who had been pouring money into fixed income mutual funds and exchange-traded funds -- received only painful tidings. What a fall from grace!
Why are Wall Street billionaires getting away with heist after heist? Because our two political parties let them. What we need is an independent progressive political formation that will make demands for the middle class.
Ben Bernanke has doubts that his $600 billion program to purchase securities may not properly affect the yields on acquired securities and "via substitution effects in investors' portfolios, on a wider range of assets." Stunning, that admission.