Bernanke emphasized that monetary stimulus is not like fiscal stimulus, it actually reduces the budget deficit.  That’s right... He said it was an 11 to 1 vote... Bernanke deserves a lot of credit for what the Fed did today.  It’s not as much as I’d like, but he’s way out in front of the median economist.  It could be much worse.

Yglesias hails Sumner's underdog bloggy clout: