Ben Bernanke still has some friends in the financial and central banking world, it seems.
After a week during which he was unable to please anyone with his announcement to phase out quantitative easing, a few people have come to his defense.
Former European Central Bank President Jean-Claude Trichet said he thinks Bernanke is doing the right things, adding: “I think that it was appropriate for Ben Bernanke to say, ‘Well, this will not last forever’…but he remained very conditional in his own explanation, so I think it was very well done. It was carefully crafted. That you have an overreaction was something that we have to live with. It tells you something about the way markets are looking at things.”