As you report, the April meeting of the Federal Reserve’s policy committee concluded with an historical first: Ben Bernanke, the Fed chairman, welcomed journalists into the central bank’s headquarters in the American capital (“Ben Meets Mike,” April 30, 2011). The press conference went predictably enough, but it still offered a few glimpses of the chairman’s thoughts. The most important such glimpse is that another round of quantitative easing is unlikely. That is excellent news, indeed. Even the chairman seems to be aware of the dangers of the bubble he has created with the previous two rounds, the second of which is still in progress through this June. Although he said at the press conference that the prime rate of interest is likely to remain exceptionally low, which cannot but also contribute to the bubble, the danger seems to have been spotted. That is a promising beginning. Let us hope Bernanke can learn from his own mistakes.