The Fed Has Spoken: But What Will CNBC Do In the Interim?

Thank God it's over! Bernanke & Co. have spoken. Rates have remained flat for this Fed cycle.

But what will CNBC do for the next month or so? Lately, they've had so many wannabe-pundits on camera professing about rates that I thought they'd interview my dog, if I had one.

In discussing this with my partner the other day, he reminded me that Bernanke also happens to run a little thing called the Federal Reserve System. Between Washington and the regional Fed Banks, there is quite a staff in the outfit.

So, as I wrote a short time ago, there are some 70-80 people in the US who seem to believe that they are qualified to be Ben Bernanke. They pop up on CNBC with distressing regularity, solemnly intoning that Ben is missing 'this,' or if Ben would only look at 'that,' then he'd see the light, and all would be saved.

Now, I am reminded that there are at least 100+ seasoned professionals working for Bernanke already. The 80 private economists and pundits don't even rate first tier behind the Fed Governors. They are, at best, in third place, behind the Fed staffs.

More reason to laugh at CNBC's scouring of the economic world every few months, in order to bring us every possible inflation outlook or piece of advice under the sun.

At least we have a few weeks of respite, before the network cranks up the volume on this broken record again.