We haven’t seen the whole speech yet, but Ben Bernanke is clearly aggravated by inflationary forces that are working against his strategy of using monetary policy to stimulate the economy.
Specifically, he acknowledges that commodity prices are surging right now AND he notes that there’s too much slack, when it comes to end demand for companies to push prices to end consumer (via a flash on CNBC). So in other words, that’s a margin crusher.
We’ll publish the full speech when it’s available.
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