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Snowstorms fail to blow away Fed chief's exit strategy

Business Times - 16 Feb 2010

PERSPECTIVE
Snowstorms fail to blow away Fed chief's exit strategy

There are some novel tools in Bernanke's plan. But how effective will they be? By Leon Hadar

US FEDERAL Reserve chairman Ben Bernanke is considered to be one of the world's most powerful public figures. But not even he could overcome the might of Mother Nature that took the form of what has been described by pundits as a 'historic' snowstorm or the 'Snowcalypse', as Washingtonians refer to the mess that hit the US capital last week.

Indeed, not even the head of the US central bank was spared from the Washington area's unprecedented winter weather last week with the House of Representative's Financial Services Committee being forced to cancel Mr Bernanke's much-anticipated testimony which was scheduled for Wednesday.

He was expected to detail the way he was planning to unwind the Fed's liquidity programmes - trillions of US dollars of aid that have bee…