The NY Times has given up any pretense of being objective in their economic news analysis. The summary of Fed Chairman's testimony this week before Congress, penned by Nelson Schwartz in today's NY Times, is little more than a political polemic aimed at defending the Obama Administration and excoriating Obama's (and, obviously, Nelson Schwartz's) political enemies.
Any reader wishing to understand the economic issues in front of the Fed and the history of the US economy is going to be seriously misled by Schwartz's utterly incompetent article. The NY Times should be renamed the "NY Times Daily Democrat." The Schwartz article is incredibly ignorant and misleading.