Ben Bernanke, who heads up the Federal Reserve Bank, works hard at his job, which has been dealt a rough hand, and his intentions are fine.
However, I feel his latest announcement to provide four media open conferences each year will not do the American economy any good. The actions of the fed should not be disclosed to the public in advance, in any event. So why this policy?
The Fed is most effective when it creates economic shock, not by tipping off the financial world in advance. Otherwise, financial players will act in advance, and help counteract what the fed action is supposed to do.
No comments:
Post a Comment