China crisis will put Bernanke in shade

Whenever Alan Greenspan was praised for delivering a clear message on US monetary policy, he liked to reply something along the lines of: “If you think that, you have misunderstood what I said.”

Ben Bernanke prefers the opposite approach.

On May 22, he triggered one of the biggest financial panics since 2008 by raising the possibility of reducing the Fed’s record-breaking monetary stimulus, while admitting that he had no idea when to start this process.