Bernanke Talks, Markets Wobble. There Must Be a Better Way

Tuesday, May 28, 2013

Rep. Kevin Brady's Centennial Monetary Commission initiative might point toward a useful policy overhaul.

By JUDY SHELTON

Since Federal Reserve Chairman Ben Bernanke testified before Congress's Joint Economic Committee Wednesday morning, commenting on the economic outlook and responding to questions from lawmakers on the likely path of monetary policy, financial markets have experienced turmoil. Triple-digit gains in the Dow Jones Industrial Average turned negative later that afternoon. That spurred a 7.3% plunge in the Japanese stock market, which in turn dragged down bourses in Frankfurt, London, Paris and Rome on Thursday morning—sending U.S. stocks on a roller-coaster ride. Mr. Bernanke must be thinking: "Was it something I said?" ... A version of this article appeared May 24, 2013, on page A13 in the U.S. edition of The Wall Street Journal, with the headline: Bernanke Talks, Markets Wobble. There Must Be a Better Way. Continue reading at online.wsj.com... image: flickr.com/fordschool