Bernanke Should Keep His Anxiety to Himself
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Federal Reserve Chairman Ben S. Bernanke decided to stick his foot in the bear’s mouth, providing the last thing the market needed from him: alarmist comments and poor choices of words (“Dow Dives 199 on Rate, Energy Fears,” June 6).
True, Bernanke is new in his role. True, Alan Greenspan, his predecessor, perfected his calming rhetoric and uncanny ability to refrain from being specific during nearly 20 years at the helm.
But Bernanke seemed to go out of his way to share his anxiety about inflation pressures and confirm the Fed’s intended “vigilance” to ensure that inflation doesn’t stick. Translated: Kiss lower interest rates goodbye.
Some would say it’s premature, presumptuous and even self-fulfilling to articulate such specifics. The role of the Federal Reserve and of its chair is to mitigate, not exacerbate. Bernanke does not appear to understand the sensitivity of his role.
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William J. Goldman
Palos Verdes Estates
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