Working Papers

Bernanke & Inflation

The WSJ, channelling gold bugs and fever swamp Austrians, frets over the August Fed pause:

Mr. Bernanke no doubt hopes that yesterday’s pause is one that refreshes; we fear it has only postponed the ultimate day of reckoning.

James Hamilton instead offers a timely warning:

There are those who will doubtless never surrender their conviction that Ben Bernanke is in reality a bird, with the latest FOMC statement confirming him as a member of the family Columbidae. To those pundits I repeat my previous warning—if you invest based on that misunderstanding of Bernanke, you’re going to get whacked down by reality.

posted on 09 August 2006 by skirchner in Economics, Financial Markets

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