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Central Bank Sanity

It is refreshing to have two central bankers who are so progressive in their thinking. Both Ben Bernanke, Chairman of the Federal Reserve Board and David Dodge, Chairman of the Bank of Canada, have released statements recently, strongly suggesting that they have tightened monetary policy sufficiently and that growth was about to cool in their respective economies.

In other words, they do not want to overdo the tightening which could bring about a recession.

It takes courage on their parts to adopt such a posture as headline inflation has crept higher and as pundits everywhere think that higher rates are needed.

My kudos to these gentlemen.

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