Ben Bernanke To Save America From Stagflation [Our Flourishing Economy]

Published: February 27, 2008, 12:14 pm

Tags: ben bernanke, economy, federal reserve, inflation, interest rates, money, our flourishing economy, recession, stagflation, wall street journal

Federal Reserve chairman Ben Bernanke testified about our flourishing American economy to Congress again today, and the economy’s just not good at all! He signaled more rate cuts would come to stave off the growing credit crisis, but balanced it with fears of inflation. As the Federal Reserve noted in its semi-annual policy report today, it foresees “a negative combination of below-trend growth and inflation rates topping 2% this year, though conditions are expected to start improving in 2009.” So we’ll have horrible stagflation for all of 2008, but Ben Bernanke will make 2009 wondrous! The Fed has already cut rates 2.25 percentage points since September, and Bernanke’s constant harping about “downside risks” (read: horribly flawed American economy) indicates there’ll be more in the future. Or maybe there won’t be, since we don’t want inflation either? What’s it gonna be, Bernanke?: Fed officials “will need

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