Ben Bernanke’s Misguided Focus on Housing is Like a Bad Joke

by Keith Fitz-Gerald.

It’s a little early for April Fools, but Ben Bernanke might just be a prankster at heart. I say this because he recently told the Economic Club of Indiana in Indianapolis that the Fed’s plans for QE3 would help create more economic activity and higher home prices. Then he added, almost as an afterthought, that this would help many more savers than it would hurt. I was waiting for the punch line…or the laugh track…or maybe an old bada-boom from Paul Schaeffer’s band offstage…

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