His decision to not cut rates, and instead release a PR item that's incomprehensible to the average person with a 401k account was a huge error. Yes, rate cuts won't accomplish anything in the long term, butt we likely wouldn't have seen this sort of volatility were it not for the absence of rate cuts. He will be out when Obama gets elected.
Not necessarily true. The Fed Chairman post isn't like the Cabinet. Bernanke's term will run full term unless he voluntarily vacates.. either at his own discretion or the request of NObama...
If he cut, what would happen? A pop that lasted a few days? Then we'd just resume this movement down. This has to happen, I don't understand why so many don't get that. Are you long and looking to cover? If that's the case, I understand your pain, but a rate cut doesn't do jack but prolong this. I think Ben's finally realizing that.
The Fed has done enough of the lifting. If anyone needs to cut, and cut hard, its the ECB and the BOE.
I agree. PPL need to realize though that the Fed is the central bank to the world. If the fed cuts, so do all the pegs, which means Hong Kong, Gulf states, China, Latin countries, etc.
Bernanke should have raised rates 5% this morning and given a big finger to the market. He should not give a crap where the market is.
again, market wanted a rate cut and bozo ben did not provide. this man does not get how to mitigate the public's anxiety. the commercial paper pr release was junk, after similarly junky pr release yesterday. he doesn't get it.
In my opinion Bill Gross has Bernanke "under his thumb" , the same way which he looked after Greenscam !!!