Lacker’s used every opportunity to let Bernanke and his rotating cast of puppets know that they’re wrong about the stimulus and that they’re imperiling what used to be the Fed’s only mission, controlling inflation. And he’s apparently doing so at substantial risk to his own standing, because while bickering, name-calling and kicking-and-screaming disagreement is all the rage every else in the District of Columbia, dissent does not go over well at the marble Politburo on Constitution Avenue NW. Read more »
It seems Bernanke may not quite have all of his ducks in a row.
Of the majority favoring the programs, officials were about evenly split between those who thought the Fed would be likely to end the bond buying by “sometime around the middle of 2013″ and those who thought the central bank would want to continue beyond then, the minutes said. Some saw the programs continuing until year-end.
Some wanted to stop buying bonds four Mondays ago. That prospect did not make the boys and girls on the floor very happy. Read more »
Ben Bernanke’s a hard one to shop for. But his underlings are dropping some clear hints. And he’s OK with the fact that you’ve already missed Hannukah, as long as it gets to him sometime next year. Read more »
Who should replace Ben S. Bernanke as Chairman of the Federal Reserve when his term ends in January 2014? If anyone cared to ask us, we’d say no one: we like our Fed Chairman soft-spoken, bearded, and just as comfortable in dad jeans as they are in their bespoke Jos. A. Bank suits. But nobody asked and, according to Andrew Ross Sorkin, Bernanke has told “close friends” that regardless of whether or not Obama wins a second term, he’s ready to move on. Apparently qualified successors are few and far between and while Larry Summers is said to be “at the top of the list,” the fact that Treasury Secretary Tim Geithner may finally be granted freedom from his own personal Guantanamo Bay and will also necessitate a replacement who will have to work closely with the new Fed Chair poses some staffing issues, on account of the perception that Summers is somewhat difficult to work with. Read more »
And wears them! In public! Where people can see him! The previously held assumption that he eats, sleeps, and showers exclusively in suits from Jos A. Bank hath been shattered! (This is almost as disorienting as the time Alan Greenspan was spotted in a tank top and cutoffs while running errands, though not nearly as traumatizing as the time the neighborhood kids got more than they’d bargained for when he came out to yell at them wearing only slipper-socks and his wife’s dressing gown!) Read more »
While most offspring are typically not available for comment following the resignations, voluntary or otherwise, of their banker dads (lookin’ at you, Jimmy Cayne, Jr.), earlier today prolific Tweeter Nell Diamond had this to say to the Brits who have been cheering her father’s departure: “George Osborne and Ed Miliband you can go ahead and #HMD.” Read more »
Directed at no one in particular but if a certain jelly donut-addicted Fed Chair has found even his extra-forgiving sweatpants getting too snug, he might want to take note. Read more »