Tuesday, June 10, 2008
Sunday, June 8, 2008
Recent comments by the heads of the Federal Reserve and European Central Bank moved the markets. Federal Reserve Chairman Benjamin Bernanke spoke plainly and clearly and yet was nearly universally misunderstood, but the market tended to like what it thought he was saying. In contrast, ECB President Jean-Claude Trichet was perfectly understood and investors did not particularly like what he said.