WSJ: Bernanke Abdicates World Leadership Role on Currencies
Central banks around the world are meddling with their currencies
through massive easing, none more so than Federal Reserve Chairman Ben
Bernanke, according to a Wall Street Journal editorial.
“The Fed is supposed to be the steward of the dollar, which is still the world's reserve currency,” Journal editors write. “But since the crisis Mr. Bernanke has all but declared that the rest of the world can take care of itself.”
Central banks around the world have had to respond to the Fed’s easing program with easing of their own “to keep their currencies from rising too fast,” the editorial states. “Mr. Bernanke is the band leader in this round of monetary nationalism.”