Bernanke doesn’t like Congress. Over his term he’s slowly but unmistakably lost any respect he had for US politicians (haven’t we all). The thing is, Bernanke is a pro and a diplomat so he painfully plays along with the usual platitudes. But if you watch his face and read between the lines, he hates those guys.
It’s easy to understand why. He has risked his career and his reputation (and future Americans’ well-being) on an untested, massively large experiment. Meanwhile, Congress is doing everything it can to submarine the economy. From the fiscal cliff to the sequester to the budget showdown to the debt limit, Congress is a disaster for US growth.
Bernanke’s comments about community banking have no bearing on markets but if he goes off-script later, this would be the perfect time for him to snap and tear apart Congress *fingers crossed*
Bernanke today delivering his remarks