Chart of the Day: Bernanke’s Ineffective policies

Chart above and the following quote from Bespoke Invest

following each of the prior two announcements, the yield on the 10-year rose by more than 100 basis points (bps) in just a matter of months. Following its most recent announcement in September, the yield on the 10-year is already up 36 bps.

While one could argue that yield declined ahead of each of the prior announcements due to the fact that each move was widely telegraphed, at face value it appears that the Fed's attempts to lower long-term interest rates have been futile.

Economic Policy Journal’s Bob Wenzel seems validated, Bernanke looks like a mad scientist who keeps failing with his faulty ‘econometric’ models, nevertheless the relentless attitude to keep trying—at everyone’s expense, of course.

The great F. A Hayek called this Fatal conceit.