Covering the Economy: Greg Ip on Ben Bernanke's Humphrey-Hawkins Testimony

As is so often the case, the single best summary story of Bernanke's Humphrey-Hawkins testimony I have seen was written by Greg Ip:

WSJ.com - Blunt-Talking Bernanke Warns of Inflation Risks : Making his debut before Congress as Federal Reserve chairman, Ben Bernanke demonstrated continuity with Alan Greenspan's interest-rate policies but broke with his predecessor's style.

Mr. Bernanke told Congress yesterday that inflation still is at risk of quickening because of high energy prices and economic overheating. He thus endorsed the thinking of the Fed at its last meeting, headed by Mr. Greenspan, and suggested the string of rates increases begun under Mr. Greenspan's leadership in June 2004, isn't over.

But his succinct and often blunt answers to questions from members of the House Financial Services Committee and his refusal to comment on many politically contentious issues signaled a stylistic break with Mr. Greenspan, who often spoke opaquely about monetary policy and lucidly about almost everything else.