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According to the Wall Street Journal
Bernanke's comments came during a question-and-answer session with four Morehouse students who had been selected to pose questions.
He said the Fed's response to the financial crisis has been "extraordinary...because we're in extraordinary times."
The private sector will at some point take the lead again in allocating capital, Bernanke said, and when that happens the Fed will have to unwind its credit-support programs. Some financial markets are already seeing "considerable" improvement, he said.
These remarks were echoed by President Obama in his pres conference monday. But where is the data to support these assertions?
I hope that Bernanke and the President are correct, but I see no reason to believe them yet: job losses keep piling up, homes are still be lossed, things do not seem any better here on the ground.
Worst of all The President still seems committed the economic plans of Geither and Summers, who have proven themselves corrupt and foolish.
So please forgive me for taking Bernanke's claims with a great deal of doubt.
Posted April 15th, 2009 by mattwion
