Patientrenter,
You were defending the BB, reread your post. To think the Fed is “just trying to do their best and control inflation” is an admission you don’t have a grasp on the workings of the Fed. I’m not talking about their stated mission but about their actions (with exception of Volker perhaps).
Prior to the Fed there was virtually no inflation. For proof read some of Greenspans earlier papers. Since the Fed we’ve lost 97% of the value of our dollar.
Bernanke is an academic. My guess is he answers to people higher up but thats hard to know since the “Fed” is a private corporation which has never been audited.
When this latest debt based credit cycle plays itself our I doubt you’ll be cheering them any longer.
