—Market commentator Stephen Roach, a Yale prof and former chairman of Morgan Stanley Asia, gave The Wall Street Journal’s Jon Hilsenrath a sideways compliment on Bloomberg TV, calling him, “the chairman of the Fed.” Roach was expressing frustration that the Fed Open Markets Committee was preparing to act to boost the economy (he’s against that, you see) and, that Hilsenrath got the scoop, as he often does.

“They [The Fed] have gone about their usual pre-FOMC leak frenzy where they talk to this reporter and that reporter. Jon Hilsenrath is actually the chairman of the Fed. When he writes something in the Wall Street Journal, Bernanke has no choice but to deliver on what he wrote.”

“…The point is, when they plant a story in the Wall Street Journal, and this story has been planted. Jon Hilsenrath is the weed that grows…the guy has a perfect track record…”

That Roach meant it as a dig makes it a better compliment. (h/t: Business Insider)

Dean Starkman Dean Starkman runs The Audit, CJR's business section, and is the author of The Watchdog That Didn't Bark: The Financial Crisis and the Disappearance of Investigative Journalism (Columbia University Press, January 2014).

Follow Dean on Twitter: @deanstarkman.