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June 29, 2006
Instant Ben: A Fed Press Release Generator
If you're anything like me, you're thoroughly tired of the market fondness for parsing Federal Open Market Committee rate decisions. The statements are opaque and obfuscatory anyway, so you can read whatever you want into them.With the preceding in mind I created an instant FOMC press release generator. Everytime you load it, or click on FOMC Chair Ben Bernanke's face, you get a new and equally bizarre release.
Enjoy. And if people are really, really nice to me, I'll let you insert your own favorite phrases into Instant Ben.
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That's hilarious. And I agree about the meaninglessness of the Fed statements -- and that's just how Alan liked them. Remember his great line? "If I have made myself clear then you have misunderstood me."
I still think Milton Friedman was right, and the entire Federal Reserve Board process should be replaced by a computer.