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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • June 22, 2011 09:43 AM UTC by Cheryl Casone

    Ben Bernanke Goes Hollywood

    There is a piece of me hoping that at some point in Ben Bernanke’s press conference Wednesday afternoon. his second as Federal Reserve Chairman, that he channels his inner Paul Giamatti from HBO’s “Too Big To Fail”.   If you view Mr. Bernanke the way Hollywood does, then you can expect him to express to the House , Senate, and White House something to the effect of “if you don’t reach a deal on debt there is nothing more the Federal Reserve, the Treasury, or the FDIC can do.  Your failure to agree means death to the credit rating of the United States of America.”

    Of course, that is something the real Ben Bernanke would never say because he is far too polite, but I hope that sentiment about the debt ceiling is somehow conveyed.  We know he’ll say things like “the economy continues to remain weak, housing continues to be depressed, and unemployment will remain high for some time.”  So why should we watch? Because the sick fun of being a financial journalist is reading between the lines, analyzing his body language, and seeing which questions he will find boring, irritating, or just plain stupid.

    The FOMC will likely do nothing earth shattering with regards to the statement, but Mr. Bernanke does need to calm nerves when it comes to issues like its bloated balance sheet, the weaker dollar, and the economy which has a bad case of mononucleosis.

    Unfortunately, the one issue he cannot address is the issue of jobs. While I’ve heard him in the past discuss unemployment, let’s be honest, it is out of his jurisdiction.  That power lies at the white behemoth with the wide pillars, and the President that resides there.  The administration needs to assure corporate America it is pro business.  Until that message resonates loud and clear, Fed Chairman Bernanke can do little from the microphone at 2:15 Eastern.  Yet, I’ll watch every moment on the Fox Business Network.

    CC

Kevin Beck

When Bernanke said that he is "shocked and surprised," that none of his relief medicine has worked to revive the economy, he should have been laughed out of the room immediately. This guy is held out as our savior, the smartest guy in the room, yet he cannot realize that his solution was destined to fail. The guy has no credibility whatsoever as a problem-solver; he juts proves that everything he touches will fail due to his inability to read economic history. The world demands he be fired.

June 24, 2011 at 5:43 pm

chance

This perfromance by Ben is all we need to see to realize he is lost. Saying things like "we don't know why" .... What do you mean Ben? You don't know why the head winds are stronger then you thought? You want congress to raise the debt and you can't tell them why. You should clean out your desk and go fishing Ben. Your services are no longer needed here. If I where a senator I would simply ask you what you do know. I'm sure that's a very short list. You and Alan Greenspam,Big Buds, we're doomed

June 23, 2011 at 10:10 am

morris wise

Sociopaths of the world unite, let your government borrow as much as possible and trickle down the goodies. Unbridled pleasure is the only thing that counts, let God pay the lenders.

June 22, 2011 at 5:10 pm

Carla, Ballwin,MO

Ben - sober,calm and deliberate - the only way to break this [bad] news.

June 22, 2011 at 3:28 pm

Steve

If I had the opportunity to ask Mr. Bernake a question it would be, Why do you keep trying to walk the fine line of polotics? You appear to me you are trying to not jeopradize your job by not telling the Presidenmt and the Congressional leadership," you guys are way off base. Cut the spending by 10% min, Raise the tax rate by 2% on people who make over 1 million $. I am a conservative Republican most of the time!

June 22, 2011 at 1:10 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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