Interesting...highlights the common belief that the Fed is winging it. http://www.cnbc.com/id/43739458
Curious comment in the article:
"Bernanke maintained that temporary factors, such as high food and gas prices, have slowed the economy. He said those factors should ease in the second half of the year and growth should pick up. But if that forecast proves wrong, he said the Fed is prepared to do more."
They go on to say that they could be wrong and those price hikes could be longer lasting.
WTF? Sounds like he's throwing sh$t at a wall and hoping something sticks. What on earth would lead him to believe that gas and food is going to drop anytime soon?
Curious comment in the article:
"Bernanke maintained that temporary factors, such as high food and gas prices, have slowed the economy. He said those factors should ease in the second half of the year and growth should pick up. But if that forecast proves wrong, he said the Fed is prepared to do more."
They go on to say that they could be wrong and those price hikes could be longer lasting.
WTF? Sounds like he's throwing sh$t at a wall and hoping something sticks. What on earth would lead him to believe that gas and food is going to drop anytime soon?