Wonkette

Federal Reserve chairman Ben Bernanke testified about our flourishing American economy to Congress again today, and the economy’s just not good at all! He signaled more rate cuts would come to stave off the growing credit crisis, but balanced it with fears of inflation. As the Federal Reserve noted in its semi-annual policy report today, it foresees “a negative combination of below-trend growth and inflation rates topping 2% this year, though conditions are expected to start improving in 2009.” So we’ll have horrible stagflation for all of 2008, but Ben Bernanke will make 2009 wondrous! MORE »

• Liberals are mean, get slapped on collective wrist. [Blogs for Bush]

• “Instead of the donkey as a party mascot, the Democrats may want to consider a more exotic animal. Peter Beinart has a suggestion — the pander bear.” [Captain's Quarters]
• Fired-for-no-apparent-reason Gawker Editor Jesse Oxfeld hired as senior editor for New York magazine’s website. [Romenesko]
• “Sen. Hillary Clinton is looking for new ways to reach out to white working and middle class voters - especially those who live in exurbs and rural areas. According to several Democratic sources and others on the periphery of Clinton’s team, an old, press-shy face is part of her the inner circle: marketing whiz Roy Spence, a Clinton family confidant since the 1970s.” [Hotline On Call]
• The cool kids have a new way to talk about “the combination of slow growth and high inflation,” and that’s Stagflation. Just rolls off the tongue. [Political Animal]

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