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.