Playing with our monies as if it were his toys

Bernanke Scholar Advises Bernanke Fed Chief to Be Bold on Monetary Policy

Q

By Jeannine Aversa - Aug 26, 2011 11:28 AM GMT-0300

 

Ben S. Bernanke while Professor of Economics, Princeton University Source: Princeton University/ Bloomberg 

Advice from Ben S. Bernanke, scholar, to Ben S. Bernanke, Federal Reserve chairman: Be bold.
As a Princeton economics professor from 1985 to 2002 and a Fed governor from 2002 to 2005, Bernanke -- a student of the Great Depression and Japan’s lost decade -- faulted central bankers for failing to act aggressively in both cases to provide credit and weed out sickly financial institutions as they tried to rescue their economies and combat deflation.
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Comment: A wrong model in active hands is probably the worst that could have happened.