Ben Bernanke always takes a lot of flak.
People say he’s going to print so much money that we’re becoming Weimar. Other people say he’s committing treason!
But we’ve never seen the reaction to him like we’re seeing today.
This time it’s the academic/economist-types who are freaking out at Bernanke’s inconsistent argument against more easing.
Basically, the Fed admits that unemployment is WAY too high, and that they’re badly failing at pursuing the employment side of the mandate, but because inflation is just a touch on the high end, they’re moving in a more hawkish direction.
This is what’s causing people to freak out. They can’t figure out why he’s not more into easing.
modelled behaviour totally tore at Bernanke on Twitter…
And here’s Ryan Avent…