New from Ben Bernanke: An open, more forceful Fed

Say hello to the new normal.  In what might be his final years as chair of the Federal Reserve, Ben S. Bernanke is transforming the U.S. central bank, seeking to shed its reclusive habits and make it a constant presence in bolstering the economy, the Washington Post reports.

The new approach would make the Fed’s policies more responsive to the needs of the economy — and likely more forceful, because what the Fed is planning to do would be much clearer. A key feature of the strategy could be producing a set of scenarios for when and how the Fed would intervene, which would mark a dramatic shift for an organization that throughout its history has been famously opaque.

Bernanke has already pushed the Fed far along this path. The central bank this month pledged to stimulate the economy until it no longer needs the help, an unprecedented promise to intervene for years. That’s a big change from the Fed’s usual role…

More?  Check out http://www.washingtonpost.com/business/economy/under-ben-bernanke-a-more-open-and-forceful-federal-reserve/2012/09/23/52f3a1ae-03e1-11e2-8102-ebee9c66e190_story.html?hpid=z1