I was on BNN's headline yesterday (video here) talking to Howard Green and Brian Milner about the IMF and China. Fed Chairman Bernanke's defense of QE and zero rates was a big piece of that conversation. I believe Bernanke's defense is largely meaningless because he is clearly going to have to make an intellectual argument to defend Fed policy. And he has done this. I am a lot more sceptical about what QE and permanent zero mean.
What's more interesting is that IMF head Christine Lagarde used her organization's forum - where Bernanke was speaking - to attack Fed policy and its unintended consequences. The IMF has become relatively unorthodox under Lagarde. It is busy bucking the EC and austerity in Europe and now it is going against the Fed and the effects of QE. All of this comes against...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.