Bernanke in the Ring: “It’s a left, then a right, another left …!!”

WashingtonPost reports Ben Barnanke will get pounded from the left and the right at this week’s Federal Reserve policy making committee. Half of the ten member committee disagrees with his monetary policy. The conservatives say he is doing too much; the liberals saying he is not doing enough. “A growing number of economists outside the Fed have advocated the more aggressive approach of permanently changing the central bank’s focus, from the level of inflation to a broader measure of growth — the present value of economic output — that would similarly make clear that the Fed was willing to tolerate a higher level of inflation in the short term. That approach, however, has gained little traction within the central bank,” states the article.

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