Tuesday, June 7, 2011
So now what?
12:58 pm (Hawaii) The market reacted peculiarly flat to Helicopter Ben's remarks three hours ago. All we know is, he:
1. still thinks he is in control of inflation, which he says will slow down later this year
2. says no changes are imminent; "accomodative monetary polices" are still needed
3. says commodity prices must be controlled
4. and that unemployment is good in North Dakota.
Apparently, the Fed continues to be in denial, just as it was always designed. No surprise there, frankly. So the digital billions will keep pouring into the banksters. Back to pilot fish mode?
Zero Hedge: Bernanke speech (June 7 2011)
(video) Bloomberg: Fed said to back 3 percentage point big-bank surcharge (June 7 2011)