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If I were Ben, I’d be letting Congress and the President that if they aren’t going to take some action on the economy, the Fed is going to sit back and save its bullets for crises in the financial system.
Because the Fed is the only party trying to do anything and the economy is stuck in suck land, the logic-impaired and the pundits who lead them are screaming that the Fed is ruining the economy and must be crushed.
@ottnott,
keep your fingers crossed for a rabbit out of the administration and congress.
perhaps once they will get it right.
ben will most certainly buy longer term bonds next for those crisis emergencies.