Krugman thinks Bernanke "Wimps out" on his beliefs and responsibilities, especially his responsibility to seek "full" employment - due to fear of inflation hawks. Here, here, eg.
Brad DeLong says similar things. Here, here
Not to mention Mark Thoma and the folks all these people reference.
My thought: Might B. be setting up a new recession-ette toward the end of the year so he/the Fed can come to the rescue with massive QE3? Ie, he needs an excuse, so why not create one?
Cynical and risky, sure. But "wimping out" does not seem to me to fit the B, and what we know is that he is one of the smartest guys in the room.
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