The Chairman of the Federal Reserve is such a swell guy, but you already would know that if you saw his Facebook page. Well, thanks to his “QE2 plan,” he’s giving the rest of us a very thoughtful Christmas present.
To be fair, I suppose it should be noted that Bernanke’s policy isn’t necessarily a bad idea – but only if you think that there will be future deflation and “quantitative easing” is the way of preventing that from happening. I’m quite skeptical, as explained here, but freely admit that I’m not a monetary policy expert (thanks for catching my mistake, Charlie). But Christmas isn’t the right time for serious discussion, so let’s just enjoy a laugh and keep our fingers crossed that we’re not heading into Jimmy Carter Inflation-land.