If we were to view Bernanke and the Fed Governors through a psycho-criminologist lens, they might best be described as an abuser that blames the victim.
How else to explain their recent proclamations that if any inflation is to be found in the world, the fault largely rests with the emerging markets’ failure to control demand?
Feb 18, 2011
Federal Reserve Chairman Ben Bernanke offered his most pointed rebuttal yet on Friday to foreign critics who say the U.S. central bank’s easy-money policies are causing inflation and asset bubbles abroad.
The rest of the world has an interest in the U.S. recovery that his policies are spurring, Mr. Bernanke argued in prepared remarks he plans to deliver in Paris as finance leaders from the Group of 20 nations gather.
He said policy makers abroad have plenty of tools to fight inflation and asset bubbles themselves, including allowing their exchange rates to adjust higher to prevent overheating. Mr. Bernanke also said surging growth in developing economies, spurred in part by their own economic policies, were [sic] causing trouble for America.
“Spillovers can go both ways,” he said. “Resurgent demand in the emerging markets has contributed significantly to the sharp recent run-up in global commodity prices.”
Fed’s Dudley: Unwise to Overreact to Commodity Inflation
Feb 28, 2011
[NY Fed President Bill Dudley] defended the Fed against critics in emerging markets who argue its easy money policy is driving emerging-market inflation. Echoing the views of Chairman Ben Bernanke, Dudley said U.S. monetary policy is appropriate and helpful to the U.S., and a return to U.S.
by islesail 
