Given the softening economic numbers that have been dribbling in for the past couple weeks, I think Bernanke did the right thing, and he probably has some better info than us regarding the state of the economy in the intermediate term. Its too bad that he is being ridiculed for this move, whereas his predecessor would have been given, if not a hero's welcome for being so insightful, but respectful consideration of the merits of the action. I suppose respect comes with having a successful track record in this business.
Given the softening economic numbers that have been dribbling in for the past couple weeks, I think Bernanke did the right thing, and he probably has some better info than us regarding the state of the economy in the intermediate term. Its too bad that he is being ridiculed for this move, whereas his predecessor would have been given, if not a hero's welcome for being so insightful, but respectful consideration of the merits of the action. I suppose respect comes with having a successful track record in this business.
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