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The markets' view of the government's determination will be crucial in the weeks ahead.
How far and fast the dollar falls will depend in part on how financial markets view Mr Bernanke's concerns about inflation.
Many policymakers in emerging markets view the rise in inflation as a short-term supply shock and so see little need to raise interest rates.
Moreover, in quarterly projections like one released Tuesday, Fed committee members set out long-run estimates that the markets view as implicit targets.
The markets' view, as far as anyone can tell, is that the EU bail-out funds must be expanded to remove any doubt about their capacity to save Portugal and Spain.
"The extended loss of the services of Mr. Zimmer or other key personnel could have a material adverse effect on the securities markets' view of our prospects and materially harm our business," the company said.
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Markets viewed the second category as more efficient.
"The markets viewed that as significant," Mr. Dudley said.
In the U.S., unlike most global markets, views on independent board leadership vary considerably among investors.
Analysts and the stock markets viewed the overall report as mildly bullish, reflecting an unbowed consumer sector.
The fact that neither the White House nor the financial markets viewed the current stakes nearly so high was another significant factor behind Mr. Obama's lie-low strategy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com