February 15, 2006
FORTUNATELY HE DOESN'T MEAN IT:
Smooth road for Fed chair so far, uncertainties ahead: Bernanke's comments calm markets, but future oil prices and housing values pose fundamental challenges. (Mark Trumbull, 2/16/06, The Christian Science Monitor)
While the path of the economy - and of the Bernanke Fed - has uncertainties, the new chairman used his first semiannual testimony on Capitol Hill Wednesday to reassure policymakers and the public of two points: The economy appears to be doing well, and he will be vigilant in guarding against enemy No. 1, inflationary pressures that could threaten price stability.
"The economic expansion remains on track," Chairman Bernanke told members of the House Financial Services Committee. "Nevertheless, the risk exists that ... output could overshoot its sustainable path, leading ultimately ... to further upward pressure on inflation."
Or the moon could break out of its orbit and knock us into the sun. Posted by Orrin Judd at February 15, 2006 6:12 PM