February 27, 2008 /

Putting A Bandaid On An Amputation

That is the approach the fed seems to be taking towards the economy: Federal Reserve Chairman Ben Bernanke, warning Congress of a period of sluggish business growth, sent a fresh signal Wednesday that the central bank will again lower interest rates to steady the teetering economy. “The economic situation has become distinctly less favorable” since […]

That is the approach the fed seems to be taking towards the economy:

Federal Reserve Chairman Ben Bernanke, warning Congress of a period of sluggish business growth, sent a fresh signal Wednesday that the central bank will again lower interest rates to steady the teetering economy.

“The economic situation has become distinctly less favorable” since the summer, the Fed chief told the House Financial Services Committee. Since Bernanke’s last such assessment last summer, the housing slump has worsened, credit problems have intensified and the job market has deteriorated.

No BenĀ  not “less favorable”. Didn’t you get the memo? It’s a “slowdown”. According to some it is also the fault of the Democratic candidates.

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