Tuesday, April 7, 2009

What's Up With WSJ Bashing of the Fed?

A professional Fed watcher emails me with this comment:

....something doesn't seem right about the WSJ bashing the Fed so much lately.

I think one of two things:

(A) The businessmen now realize how much power the Fed has, and that it is second (if that) only to the Executive. So the WSJ is starting to dig in and is preparing for all out war [on the Fed].

(B) They realize the dollar is toast and so they're trying to lay some precedent down so they can say, "We've been warning about the Fed for some time now

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