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Heavy-Handed Politics

"€œGod willing, with the force of God behind it, we shall soon experience a world
without the United States and Zionism."€ -- Iran President Ahmadi-Nejad

Monday, June 08, 2009

By LAWRENCE KUDLOW: Time to roll back the stimulus - Washington Times
Testifying before the House Budget Committee this week, Federal Reserve Board Chairman Ben S. Bernanke said that when the time comes, the Fed will raise interest rates in order to stop inflation from building in the next recovery.

He also asked for "fiscal balance" to sustain financial stability. On the surface - in terms of keeping prices stable and restoring value to the softening U.S. dollar - this is positive. Surely Mr. Bernanke wants to do right for America, and he is giving it his best shot.

But when you talk to traders and economists, the whispered story is that Mr. Bernanke and the Fed are no longer truly independent of the Obama White House and Treasury.

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