Wednesday, May 21, 2014

Yellen Praises Bernanke at Yankee Stadium Commencement Speech

Fed Chair delivered a speech this morning to the graduating class of New York University. The commencement was held at Yankee Stadium. During her remarks she praised her predecessor at the Fed, Ben Bernanke:
My predecessor at the Fed, Chairman Ben Bernanke, demonstrated such courage, especially in his response to the threat of the financial crisis. To stabilize the financial system and restore economic growth, he took courageous actions that were unprecedented in ambition and scope. He faced relentless criticism, personal threats, and the certainty that history would judge him harshly if he was wrong. But he stood up for what he believed was right and necessary. Ben Bernanke's intelligence and knowledge served him well as Chairman. But his grit and willingness to take a stand were just as important. I hope you never are confronted by challenges this great, but you too will face moments in life when standing up for what you believe can make all the difference.
Yup, the guy who bailed out the elitist, crony sector of Wall Street and pumped billions upon new billions of dollars into the system that will compete against the dollars in your pocket via price inflation. Yup, that Bernanke, Yellen says he has courage and grit.


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