Except when it's not.
1. Unemployment is improving, is still high and sinking too slowly.
2. The GOP mercilessly lambastes the Obama Administration for high unemployment.
3. The Fed is tasked by Congress to (a) manage inflation and (b) reduce unemployment.
4. The Fed says that sometimes it might be necessary to prioritize (b) a bit over (a).
5. The GOP mercilessly lambastes the Fed for prioritizing (b).
Have I got that right?
(Note: I am not an unabashed Bernanke fan. I just find the juxtaposition … amusing.) #ddtb
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Bernanke Takes Heat From Republicans
In testimony before a Congressional committee, Ben S. Bernanke defended the Federal Reserve against G.O.P. accusations that its policies could allow higher inflation.
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