This Was The Scariest Thing Ben Bernanke Said Last Night

Ben Bernanke

Photo: CBS

Most of what Ben Bernanke said on 60 Minutes last night was not that newsworthy.That he’s open to more bond buying beyond the original $600 billion isn’t actually that remarkable.

His policy suggestions (simplifying the tax code, etc.) were interesting, but, you know, not earth shattering.

The worst part was when Ben Bernanke was asked how confident he was that he could stave off inflation when and if it came to that.

Bernanke’s answer was that he was 100% certain he could.

100%? Really? This represents a frightening belief in his own power and the effectiveness of monetary policy. One of the big knocks on Bernanke is that he’s an academic who’s convinced he can manage the economy via model, and frankly this kind of comment only confirms it.

Seriously, 100%?

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