"History proves… that a smart central bank,” Ben Bernanke, then chairman of Princeton’s economics department, wrote in an article in Foreign Policy magazine in September 2000, “can protect the economy and the financial sector from the nastier side effects of a stock market collapse."
As if on cue, Bernanke, now chairman of the Fed, injected $14 billion more dollars into the system this morning.
“The New York Fed plans still more liquidity injections on most days over the next two weeks.” writes “Dollar Bear” Dave Gonigam on our blog this morning. “It’s telling us this now so that we don't, you know, get the wrong idea and think they're reacting to a calamity or something.”
If you’re keeping score at home, this morning’s dollar dose brings the total since last Thursday to $85 billion. That’s nearly $5 billion more than the initial boost given by the Fed following the Sept. 11 attacks on New York and Washington, D.C.
As if on cue, Bernanke, now chairman of the Fed, injected $14 billion more dollars into the system this morning.
“The New York Fed plans still more liquidity injections on most days over the next two weeks.” writes “Dollar Bear” Dave Gonigam on our blog this morning. “It’s telling us this now so that we don't, you know, get the wrong idea and think they're reacting to a calamity or something.”
If you’re keeping score at home, this morning’s dollar dose brings the total since last Thursday to $85 billion. That’s nearly $5 billion more than the initial boost given by the Fed following the Sept. 11 attacks on New York and Washington, D.C.
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