This is another San Francisco earthquake just waiting to happen.
Pray for the health and long life of Bernanke.
I am.
* * * * * J B K * * * * *
San Francisco
March 24 (Bloomberg) -- Janet Yellen, president of the Federal Reserve Bank of San Francisco, said that while it's too soon to raise interest rates, she'll be ready to do so "when the time has come."
Yellen said the Fed's pledge to keep rates low for "an extended period" was "appropriate" and that it made "no particular time commitment." In a speech yesterday in Los Angeles, she discounted concerns record budget deficits might fuel inflation.
"The Fed has to be ready to take away the punch bowl when it's necessary," Yellen told reporters after the speech. "When the time has come, am I going to support raising interest rates? You bet. I don't want to see inflation pick up."
http://www.bloomberg.com/apps/news?pid=20601068&sid=askizRCWdj2Q
