The hard knocks of an accelerating recession may have been, in some ways, a good thing for Fed Chairman Ben Bernanke, once best known as an academic with brown socks and bland answers, according to columnist Dana Milbank. In this trial by fire, Bernanke has dispensed with tiresome references to M1, M2, Libor and basis points, replacing them with the clarity of a straight-shooter. "I think we can break the back of this thing," he told a National Press Club luncheon Wednesday.

Related Summaries