Bernanke's Lapse Dance

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WallStFolly reports that Fed boss Ben Bernanke made his first public comment today on BartiromoGate while testifying before the Senate Banking Committee.

"Senator, that episode you referred to was a lapse of judgment on my part. In the future, my communications with the public and with the markets will be entirely through regular and formal channels."

One of our trader friends reacted over instant messaging.
Trader: Holy crap! "Lapse in judgment?" We're totally screwed when the guy running our monetary policy is admitting to lapses in judgment!
Dealbreaker: Not so sure. How well did imagining the Fed chief as an omniscient narrator of the market work out under Greenspan?
Trader: Great. Now we have the Fed as an unreliable narrator? We screwed!
Dealbreaker: Don't tell the guys at the desk you were an English major.

Ben Bernanke: Comments to Maria were a "lapse of judgment" [WallStFolly]
Update: Reuters has the full report.

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