You’ve heard of ”Helicopter Ben.” Now it’s time to meet ”Beijing Ben.” The first of US Federal Reserve Chairman Ben Bernanke’s monikers evolved out of a 2002 speech in which he referenced Milton Friedman’s comments comparing unorthodox policies to dropping money from a helicopter. The second is how some are referring to Bernanke’s ever-increasing role in Asia. From Beijing to Hanoi, officials are concerned that low US interest rates are fueling bubbles. It’s the clearest sign yet that Asian officials are worried about bubbles. Investors getting used to double-digit stock gains in Asia should expect a much more challenging environment in 2010.Wednesday 2 December 2009
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You’ve heard of ”Helicopter Ben.” Now it’s time to meet ”Beijing Ben.” The first of US Federal Reserve Chairman Ben Bernanke’s monikers evolved out of a 2002 speech in which he referenced Milton Friedman’s comments comparing unorthodox policies to dropping money from a helicopter. The second is how some are referring to Bernanke’s ever-increasing role in Asia. From Beijing to Hanoi, officials are concerned that low US interest rates are fueling bubbles. It’s the clearest sign yet that Asian officials are worried about bubbles. Investors getting used to double-digit stock gains in Asia should expect a much more challenging environment in 2010.
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