Showing posts from October 6, 2011

Is Bernanke trying to jump into political fray?

Business Times - 07 Oct 2011 Is Bernanke trying to jump into political fray? He partly blames his Congressional critics for what he calls faltering economic recovery By LEON HADAR WASHINGTON CORRESPONDENT AT ONE point during his Congressional testimony on Tuesday, it sounded as though Federal Reserve chairman Ben Bernanke was about to join the demonstrators protesting in New York and other US cities against Wall Street and corporate greed. The protesters were blaming 'with some justification the problems in the financial sector for getting us into this mess', Mr Bernanke said after being asked about the protests during his appearance before Congress's Joint Economic Committee. 'At some level, I can't blame them,' he said as he pointed to the above 9 per cent unemployment rate. Americans were 'dissatisfied with the policy response here in Washington', the head of the US central bank warned American lawmakers, directing much of his criticism towards the l