Ben Bernanke on Fed Meetings: They’re ‘deadly boring’ and ‘scripted’

Former Federal Reserve Chair Ben Bernanke spoke with BBC News this week (via MarketWatch) and he made a not-so-surprising admission: the Federal Open Market Committee (FOMC) meetings are “deadly boring” and pretty much “scripted.”

Anyone who has questioned the United States central bank and the way it handles both its monetary policy and its communications with the general public can realize that these things are fake. They likely sit around the table playing gin rummy and the winner gets to choose either to print more money or suppress interest rates.

Here is what Bernanke told the news agency:

“They get lots of attention … and most of them are deadly boring. hey are very scripted. The staff do all the work and they write the communique in advance of the decision making.”

Perhaps Bernanke should have arrived to the meetings with his helicopter and bags of money…