Since the 2008 Debt Debacle every major participant on Wall Street has been getting criticized about transparency. Yesterday was the government’s time to practice what it preaches. Fed Chairman Bernanke’s first official Federal Reserve Press Conference did just that - kinda.
He began by pushing the blame of inflation toward international demand with no influence from loose monitory policy and then acknowledged the effects the Fed has had on the debt & equity markets. So I guess transparency means… uh, do no wrong? Whichever the case, the equity markets loved it when he quantified the plan on funding the economy further with another potential round in August.
Nonetheless, it didn’t do so much for the Greenback as it broke the 2009 bottom and began heading toward all-time lows. Just remember, the lower the dollar goes, the less money the U.S. Government debt becomes – so… the powers at be jumping on the ‘transparency’ bandwagon, didn’t seem to mention that lil’ tidbit.