“Bloomberg said it well: ‘Federal Reserve officials intensified efforts to curb a growth-threatening rise in long-term interest rates, seeking to clarify comments by Chairman Ben S. Bernanke that triggered turmoil in global financial markets.’ Clarify, my foot. They are seeking to rein in Bernanke, who on his own authority changed the targets. Dudley is the Vice Chairman of the FOMC. They are trying to put out the interest rate fire that Bernanke’s comments last week produced in the bond market and mortgage market — the targets of QE3. Bernanke has gone rogue. Dudley is trying to bring him under control. He is trying to persuade investors that QE3 is here to stay.”
http://teapartyeconomist.com/2013/06/28/bernanke-has-gone-rogue/
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