The most troubling part of the testimony was when Ben "assured" the rep from Illinois that the "[Dollar] is doing fine and that there is no question that the world accepts the U.S. Dollar are the reserve currency and will continue to respect it as such…"
Weird because that wasn't even the question the Rep asked. He was asking Bernanke to explain t-bill spreads and why mortgage rates went up as the Fed funds went down. Bernanke went completely around the explanation and just blurted that manure about the Dollar being strong.
