A great op ed piece in the investors business daily by Michael Cosgrove. I could not agree more. The Federal Reserve looks like they in shambles with one saying one thing and another saying another thing. In panicky atmospheres rule by democracy does not work. The panic of 1907 was stopped by one man, JP Morgan. You cannot have all these mixed messages going out all over the place. Anyway a good read.
Recent Federal Reserve activities suggest that Chairman Ben Bernanke went from being in charge to losing control of the Federal Reserve in the span of a few days.