Oh great. He's ready to do whatever it takes to help out Wall Street who are loving his rate cuts (i.e. free money) and his puppet-like behavior. If this means crushing average Americans with a weaker dollar and more expensive oil (notice how it's risen!) he's fine to do so. As long as Wall Street likes him. I can see why Bernanke doesn't have any friends but buying them like this is really painful for the rest of us. Can't he just go on Facebook and find someone who will befriend him?
Given all the dangers facing the economy, the Fed "will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks," he said, indicating additional rate cuts were likely.
But he said the Fed has to be mindful that growth should pick up later in the year.
Perhaps, but not really a given at this point. Each assessment of the economy in recent months has been worse than the last. There is no shortage of trouble thanks to failed GOP policies but to kowtow to Wall Street - who created these problems and did a brilliant job of selling this junk - and add to the already high inflation is not the answer.
