War: @WSJopinion Vs. @BenBernanke
A war has broken out between the WSJ Editorial Page and former Fed Chairman Ben Bernanke.
The WSJ says the Fed has been too optimistic with economic growth forecasts, QE hasn’t worked (except for QE1) and uncertainty about rate policy is hurting growth.
Bernanke says the WSJ has it wrong. Unemployment fell faster than the Fed predicted, QE worked, and the WSJ should be asking for more stimulus spending on infrastructure, not a change in Fed policy.
We think they both have it wrong. They are missing the forest for the trees.
by Brian S. Wesbury, Chief Economist, First Trust
Note: We are happy to provide this perspective from First Trust for a couple of reasons – it makes sense to us and it usually takes a much different point of view from the main stream media reporting. It’s important that you know there are other takes on what’s happening in our economy and around the world. We hope you enjoy it. Charles Scott, Pelleton Capital Management.