What a Disappointment

Bernanke panders to the Jim Cramer investors - you know, the ones who are passionate about laissez-faire capitalism until their bonuses are at stake, at which point they start screaming for welfare - by cutting the target rate a surprising half-point. Maybe he was locked into cutting by the CW, which held that he would - Bernanke believes in an open and predictable Fed so he might have felt he needed to cut since people expected him to. But instead of a quarter-point, which would have mostly been a nice gesture, he cut a half-point, which starts to raise questions about whether he cares more about his job or his cocktail-party friends. His job is to fight inflation, not to start panicking when the market has a measly 4% haircut. Another disgrace and disappointment from a RINO administration.