Does the Fed Even Bother With Reporters These Days?
Why bother? No one cares. Has the Bernanke bat phone been ringing more often than usual at the Journal? This dude seems to think so.
Carter Dougherty via Bnet:
Central bankers like to pride themselves on transparency, but right now the Federal reserve looks like a place of murky politics that redefine opacity. The latest salvo came via the WSJ, whose Jon Hilsenrath reports that the Fed is considering buying new financial assets to push down longer term rates by using the cash generated as securities already on its books mature. Or rather, it authoritatively states that the Fed “will consider” this step at its August meeting next week. (Note to readers: the story’s top is written almost entirely without attribution — a clear sign that Fed officials, maybe including Ben Bernanke himself, were behind it. But by avoiding any attributions — you know, “according to Fed officials who requested anonymity” or some such — they can insist they still practice transparency in communication. A dirty secret in central bank journalism.)
Then we had James Bullard of the St. Louis Fed, who warned darkly in a new paper about deflation risks last week. That prompted lines about a “subtle but significant shift” (NYT). But then the WSJ’s excellent Fed reporters chimed in, with Luca di Leo at the top of the story: the Bullard paper “shouldn’t be seen as a shift in Fed policy.” No attribution for where that information came from either, so no prizes for guessing where that bold statement of fact came from.
Please. It doesn't take a direct line to the Board to figure out what they're up to and if such a thing exists, I guarantee Ben Bernanke is not itching to ring up his favorite NYT central bank whores and start yapping about what he's up to this week. They have lackeys for that. And even if he (or his advanced lackeys) are, the Journal is a respected publication that would never ever stoop so low as to serve as concubine to the Fed's little disinformation worms now would it?
The System is scared to even @ people on Twitter, how the fuck could they figure out a viable strategy to spread this nefarious message of theirs through the media? Hell, they won't even follow me back (burn) as if somehow by doing so they're egging me on. Please. Again.
The spreading disinformation through the media method failed a long time ago. Like the first 47 times they were caught lying. Fool me once shame on you, fool me twice...