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July 25, 2008 9:49:13 PM CDT

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Streeters Give Ben Bad Grades

Posted Feb 6, 08 5:29 PM CST in US,  Business 

(Newser) – Economists went negative on Ben Bernanke in a new Wall Street Journal survey, grading the Fed chief at 75 out of 100 points—the lowest mark in two years on the job—and saying he had managed communications poorly and was too attentive to bears and bulls. One watcher said the Fed gave “too little too late on cuts, and has been lax on supervision and regulation.”

The predictors said it was more likely than ever the US would face a recession: While surveys last June and this January saw 23% and 40% chances, respectively, the new poll put the odds at 49%. The forecasters also foresaw poor quarterly growth—0.6%—in US gross domestic product and another half-point cut in interest rates before July.

Source Wall Street Journal

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Federal Reserve Board Chairman Ben Bernanke discusses the near-term economic outlook while testifying on Capitol Hill in Washington, Thursday, Jan. 17, 2008, before the House Budget Committee. (AP Photo/Dennis...   (Associated Press)
Federal Reserve Board Chairman Ben Bernanke awaits the arrival of Senate Banking Committee Chairman, Sen. Christopher Dodd, D-Conn., Wednesday, Feb. 6, 2008, in Dodd's office on Capitol Hill in Washington....   (Associated Press)
Federal Reserve Board Chairman Ben Bernanke pauses while discussing the near-term economic outlook during testimony before the House Budget Committee on Capitol Hill in Washington in this Thursday, Jan....   (Associated Press)
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