We knew that.
Aug. 17 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke's gamble that he can suspend interest rate-increases on the chance inflation will recede is showing signs of paying off.
Economic figures are now breaking Bernanke's way for the first time since he took the central bank's helm in February. A measure of wholesale prices unexpectedly fell last month and one gauge of consumer inflation eased, Labor Department numbers in the past two days showed. Reports of slowing sales from Wal-Mart Stores Inc. and Home Depot Inc. provided evidence backing the Fed's forecast of a slowing economic expansion.
The data blunt criticism that Bernanke, 52, is softer on inflation than his predecessors Alan Greenspan and Paul Volcker, and that he jeopardized the Fed's credibility by refraining from lifting rates last week.
Aug. 17 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke's gamble that he can suspend interest rate-increases on the chance inflation will recede is showing signs of paying off.
Economic figures are now breaking Bernanke's way for the first time since he took the central bank's helm in February. A measure of wholesale prices unexpectedly fell last month and one gauge of consumer inflation eased, Labor Department numbers in the past two days showed. Reports of slowing sales from Wal-Mart Stores Inc. and Home Depot Inc. provided evidence backing the Fed's forecast of a slowing economic expansion.
The data blunt criticism that Bernanke, 52, is softer on inflation than his predecessors Alan Greenspan and Paul Volcker, and that he jeopardized the Fed's credibility by refraining from lifting rates last week.
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on Thursday, August 17, 2006 at 11:23 PM.
