It’s not what you think: “to finally put this canard to bed,” etc., etc.
No, IFO thinks the Obama press conference was to take attention away from Ben Bernanke’s first-ever press conference. The U.S. Federal Reserve bank head’s eagerly awaited public press debut, preceded by a public statement, was completely overshadowed by the birth certificate nonsense.
WSJ published the Fed’s statement moments ago. Summarizing that statement, they said:
The U.S. Federal Reserve signaled the end of its controversial $600 billion bond-buying program as planned, setting the stage for challenging decisions about whether to raise interest rates in the face of both high unemployment and looming threats of inflation.
This announcement could have had a huge market-moving effect, but the b.c. release sucked all the air out of that room.
A brief comment here on reporters’ language conventions: Fed officials don’t “say,” they “signal.” Sheesh! And policy makers – Why not “Federal Reserve Board members voted to …”