WSJ’s Jon Hilsenrath gets a promotion

“Chairman of the Fed” Jon Hilsenrath

Stephen Roach, Yale University professor and former non-executive chairman for Morgan Stanley in Asia, tells Bloomberg Television:

“Jon Hilsenrath is actually the Chairman of the Fed. When he writes something in the Wall Street Journal, [Federal Reserve chairman Ben] Bernanke has no choice but to deliver on the basis of what he wrote. …When they plant a story in the Wall Street Journal, and this story has been planted. Jon Hilsenrath is the weed that grows under the planting…”

I’ve asked Hilsenrath for comment.

* Stephen Roach on Fed stimulus measures, economy (
* Hilsenrath: Fed moves closer to action ( | Video: Hilsenrath discusses the Fed (