Should Bernanke Be Stabilizing Financial Markets?
In his testimony before Congressional today, Ben Bernanke reportedly made an effort to sooth uneasy financial markets. For this he was widely applauded by the business press. But is it the Fed’s job to be soothing financial markets? [continue reading here]
Down Market? Look at the Fundamentals
Listening to NPR and reading the business press commenting on yesterday's Wall Street selloff, I repeatedly see the phrase "look to the fundamentals." This is good advice, but I can't imagine which fundamentals these folks are looking at, since the fundamentals seem to reassure them. [continue reading here]
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