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August 20, 2007

A headline from Bloomberg:

Bernanke’s `Rookie Mistake’ Forces Fed to Shift Focus

Note this quote from the article:

“We’re getting a nice further look at the new Bernanke Fed,” said Ethan Harris, chief U.S. economist at Lehman Brothers Holdings Inc. in New York. “He definitely wants to use the committee and these more formal directives,” as opposed to Greenspan’s preference for speeches laden with “code words.”