That’s the message that many market participants are trying to send to the Fed, but odds of them paying attention are low.
Mickey Levy, the respected chief economist at BofA just made the case on CNBC that the problems in the US economy at the moment are very unlikely to respond to lower interest rates. The St Louis Fed research department makes the case that rates might not even move lower on QE…
Bernanke is renowned as the foremost expert on the Great Depression of the 1930s and was a major critic of timid central bank policy by the BOJ in the 1990s, so expect him to ignore the criticism and keep his foot on the monetary accelerator no matter what the critics (both inside and outside the Fed) say…and the dollar will suffer for it.