Bernanke speech comments cause surprise

Ben Bernanke, newly-appointed Fed governor and an advocate of inflation targetting, has revealed the Fed's secret weapon in combating the perils of deflation: the printing press.

And by saying the un-sayable, the tidy-bearded academic may have landed himself in a spot of bother. His willingness to opine on sensitive subjects with an academic's approach does not fit with the more discreet world of central banks or finance ministries - as John Taylor has recently discovered.

Speaking to a group