Bernanke Scheduled To Open His Big Fat Mouth Today: Should Apply for Cabinent Job

[ByLoSellHi]

Bernanke sure feels compelled to try and jawbone the markets higher today.

I thought the federal reserve was strictly concerned with monetary policy?

Since when did the fed reserve have the jurisdiction to speak to, let alone try to persuade, the financial markets?

 

[joeyata1]

incredible every single day it seems since loud mouth bernanke's been in office theres him or fed gov's on the wire daily giving stock market forcasts and economic forcasts. its disgraceful they do this and is why the bottoms a while away. till they all stop hyping we go lower over the coming months

 

[K.C.]

Quote from ByLoSellHi:



Since when did the fed reserve have the jurisdiction to speak to, let alone try to persuade, the financial markets?

Since 1913

 

[Corey]

Obviously they want to re-coop their losses!

 

[ByLoSellHi]

Quote from K.C.:

Since 1913

No they don't. It's not part of their mandate.

Their mandate is monetary policy (i.e. interest rates, currency stabilization and liquidity).

Bernanke is not supposed to be acting like a bag boy for the boys at Goldman - not publicly at least.