Bernanke: Fed pumping 'good for Obama's re-election global economy'...

If Ben Bernanke had been completely honest, he would have sad Obama's re-election.

Via FT:

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Ben Bernanke has launched a staunch defence of the US central bank’s aggressive monetary easing amid attacks on the policy from officials around the world.

The head of the Federal Reserve rounded on critics of the policy, which has prompted accusations that he has sparked a global “currency war” that risks destabilising emerging market economies.

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The Fed’s effort “not only helps strengthen the US economic recovery, but by boosting US spending and growth it has the effect of helping support the global economy as well”, Mr Bernanke said on the last day of International Monetary Fund annual meetings in Tokyo on Sunday. 

Priceless video: Rep. Grayson (D-Florida) grills Bernake on giving out half a trillion in our money to foreign banks

I may not always agree with Freshman Congressman Alan Grayson (D), U.S. Representative, Florida’s 8th District, but you have to love this gutsy grilling of Federal Reserve Chairman Ben Bernanke before the House Financial Services Committee. Bernanke gave a half of a trillion dollars to overseas banks and doesn't know where the money went. Grayson laughs in Bernanke's face when Bernanke denies the money affected the U.S. dollar nominal exchange rate.