The Punchline In His Own Words: Bernanke Advocates Blowing Asset Bubbles As The Antidote To Depression
Submitted by Tyler Durden on 09/13/2012 16:02 -0400
Ben Bernanke Bond Main Street Monetary Policy
If there was one absolutely must see moment exposing everything that is broken with the Fed’s brand new policy of QE-nfinity, it was this exchange between Reuters’ Pedro da Costa and the Chairman. It explains, beyond a reasonable doubt, that the only goal the Fed now has is to reflate the stock market bubble to previously unseen levels, to focus on generating jobs although not for everyone but only for Wall Street, consequences be damned, because by the time the consequences arrive, and they will (just recall that subprime is contained) they will be some other Fed chairman’s problem. Bernake’s term mercifully runs out in January 2014.