This says it all:
June 20 (Bloomberg) ... Merrill Lynch economists speculated in a June 16 report that Fed's likely decision to raise interest rates shows that Chairman Ben Bernanke is willing to risk harming the economy to shore up his credibility as an inflation fighter. Bernanke and other central bankers are paying more attention to their reputations among investors than to economic fundamentals, and in fact an economic slowdown in the U.S. has already begun, the report said.
June 20 (Bloomberg) ... Merrill Lynch economists speculated in a June 16 report that Fed's likely decision to raise interest rates shows that Chairman Ben Bernanke is willing to risk harming the economy to shore up his credibility as an inflation fighter. Bernanke and other central bankers are paying more attention to their reputations among investors than to economic fundamentals, and in fact an economic slowdown in the U.S. has already begun, the report said.
This entry was posted
on Monday, June 19, 2006 at 5:49 PM.
