Why Bernanke's Bad Day Is Actually Good
Reading through Frank Ahren's liveblog of the hearing, it doesn't look like Ben Bernanke had much fun testifying before the House Oversight Committee this morning.
But that's probably a good thing. I'm becoming increasingly convinced that one of the best indicators of the recovery is the degree to which Congress is emboldened to second guess and interrogate the Chairman of the Federal Reserve. There was so much fear and uncertainty during last fall's crisis that even traditionally feisty congressmen were cowed and eager to support anyone who seemed like they might know what's going on or have a plan for getting us out. It's a bit like how children will fight with their parents in the day but not when they wake up during the night. The more things return to normal in the economy, however, the more they return to normal in the Congress. And today's hearing felt normal. I find that cheering.
Posted by: Dellis2 | June 25, 2009 2:58 PM | Report abuse
Posted by: leoklein | June 25, 2009 5:54 PM | Report abuse
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