Bernanke's 34 Pages of Responses to Senator Bunning's Questions Are Well Worth Reading.

Yesterday, Senator Jim Bunning (R-KY) released 34 pages of written responses Fed Chair Ben Bernanke sent him with answers to 70 questions on everything from demands for records, to explanations of bailout decisions, to whether he had made commitments to the White House or Treasury to secure renomination, to broad policy questions ranging from gold to quantitative easing to dealing with asset bubbles.  This is the most wide ranging set of responses from the Federal Reserve on the financial crisis to date.  Bernanke's answers were judicious, but obviously didn't go far enough to appease Bunning, who has been an implacable foe of Fed intervention in financial markets.  Bunning and a few supporters will attempt to use the Bernanke nomination debate to curtail Fed powers, but, in my opinion, Senate Banking will recommend Bernanke's confirmation tomorrow morning, and the Senate will confirm him by late January.