flags a particularly unsettling exchange that occurred during Bernanke’s re-appointment hearing.
Fed Chairman Ben Bernanke this morning, shortly before being nominated for another term by the Senate Banking Committee on a vote of 16 to 7 in favour, rebuffed worries over an asset bubble globally along the lines suggested by NYU bad-boy economist Nouriel Roubini.
Pressed by Committee chairman Chris Dodd on the matter of the carry trade, the cheap dollar being used to buy higher-returning assets, Bernanke responded that it’s only a problem for the U.S. if you think the economy is going down again, which is not the Fed’s view.
Ben, have you seen all this?
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