Bernanke – Spend More, I’ll Buy The Bonds!
Courtesy of Bruce Krasting
I think Bernanke broke the “rules” today. He was very clear in making recommendations about what Congress should do with the sequestration. Ben’s very public position comes three days before cuts are due to hit. I’ve not seen a Fed head do this before; we’ll see if the Chairman’s words alter the outcome.
For sure, he has thrown his (and the entire Fed’s) hat in this ring. He is taking the side of the Administration. For that he is going to take political heat. He deserves the heat – Ben’s meddling where he shouldn’t.
I heard Ben say, “Buy gold and short bonds”.
