That was the best joke from Bernanke ever
Confident that you can in theory raise rates in 15 minutes? So was Obama about his ability to repeal Bush's tax cuts for billionaires. How well did that play out?
"Bernanke said he is “100 percent” confident that, when necessary, the central bank can control inflation and reverse its accommodative monetary policy.
“We’ve been very, very clear that we will not allow inflation to rise above 2 percent,” he said.
“We could raise interest rates in 15 minutes if we have to,” he said. “So, there really is no problem with raising rates, tightening monetary policy, slowing the economy, reducing inflation, at the appropriate time.”
“That time is not now,” he said.
The Fed’s policy of purchasing Treasury securities shouldn’t be considered simply printing money, Bernanke said."