QE2 Working the Wrong Way – Has the Fed Redefined the Mission?
January 20, 2011 at 00:10 AM EST
Monetary policy responsibility cannot substitute for government irresponsibility – Jean-Claude Trichet A funny thing happened on the way to QE2: rates rose rather then fall. It appears The Ben Bernank has now redefined the mission from keeping long rates down to pushing stock prices up. He says he wants to create a “wealth effect” among [...]