Ben Bernanke

Ben has left the Federal Reserve rates untouched. Federal Reserve Chairman Ben S. Bernanke’s plan to hold interest rates near zero through at least mid-2013 provoked the most opposition among voting policy makers in 18 years as central bank consensus frayed.
Yesterday, three policy makers dissented from the decision to apply a specific date to the Fed’s low rate pledge for the first time.



The last time three FOMC voters dissented was on Nov. 17, 1992, under Bernanke’s predecessor, Alan Greenspan.
In previous eras, dissents could signal rebellions against the chairman. Greenspan faced three dissents on November 17, 1992. Cleveland Fed President Jerry Jordan dissented in favor of “immediate action” to increase the availability of reserves.
Fed governor John LaWare and St. Louis Fed President Thomas Melzer dissented because they believed the economy was strengthening and central bank policy might “well-establish a basis for greater inflation later.”



Yesterday’s dissents highlight a lack of full support for Bernanke’s policies at a time when the central bank is under greater scrutiny. Prior to yesterday’s meeting, there had been 23 dissents during Bernanke’s tenure as Fed chairman. Fisher, Plosser
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