Shellacking

Commentary - Blog Archive - The Lightbulb Goes on: "As this report explains, the Fed will not come to the Democrats’ rescue, at least not in time to stave off a shellacking in November:

Fed chief Ben Bernanke said Friday the nation’s central bank would take action to prop up the economy if absolutely necessary. … He did not pledge any immediate, dramatic steps to goose growth and suggested the bank’s remaining tools might not work very well anyway. The mild statement from Bernanke, while soothing to investors, creates a potentially serious political problem for the Obama administration and congressional Democrats, some of whom are feeling their House majority slip away with every passing piece of bad economic news."