Bernanke Owes China, Was Just Recently Able to Visit
Federal Reserve Chairman Ben S. Bernanke’s efforts to keep U.S. prices and employment from falling may get a helping hand from China’s decision to let its currency gain against the dollar.
Greater yuan flexibility will eventually raise prices of goods imported to the U.S. after a decline in the consumer price index for two straight months and as some Fed officials voice concern about inflation slowing too much. The move should also eventually increase U.S. exports of aircraft, steel and wheat to China, said Charles Lieberman, a former New York Fed official.
Well FUCK that's hilarious, I thought they were pressuring China because it was the right thing to do! No one could have suspected that things would appear to work out in Bernanke's favor.
Should also and will eventually are words to be wholly ignored when spoken by economists, who tend to miss the slightest shiver because they're too fixated on the broader picture. Or get too obsessed with one event (like ZB getting off on the first GD and now navigating GD II like a giddy fucking schoolgirl) and totally blow off everything else. You know what I'm talking about.
I'll believe it when I see it.
Funny, Bernanke was pretty much banned in China up until this little meet and greet.