Rate cuts, other moves must eventually be reversed
(NEWSER) - In his first term as Fed chairman, Ben Bernanke played the role of savior, lending hundreds of billions to banks and businesses, backing the mortgage market, and cutting interest rates. In his second, Bernanke will have to turn “strict disciplinarian,” reversing earlier moves to respond to a massive deficit, writes Edmund Andrews in the New York Times. That's going to be both difficult and unpopular and risks putting the Fed “on a collision course” with the White House. More»
