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Bravo for Bernanke and the QE Era
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A former chairman of the Council of Economic Advisors during 2010-2011 offers his reflections on the quantitative easing policies of Fed chairman Bernanke. He points out that the Fed was simply offsetting the effects of tight credit channels when it employed QE to prevent this from damaging the economy at a sensitive time. Inflation would have increased as critics say, only if the Fed did not reverse its policy with tapering as it is doing now. Bernanke offers a similiar assessment and says Fed critics refuse to look at todays inflation numbers which are below 2% for 2013- and also below 2% for 2012.
Reflections of Ben Bernanke on his handling of the 2008 financial crisis and quantitative easing (QE)
03/03/2009
Bernanke says the least credible criticism of QE is that it leads to inflation, the most credible that it could destabilize markets. So far in early 2014 he sees no signs of inflation or destabilizing markets. He says QE has worked better in practice than it does in theory. Christina Romer says the Fed's independence is best preserved by having decisions made by experts. Bernanke points out that decisions made for the short term can only erode that independence. It will take the public some time to understand what he has done, says Bernanke.
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Philadelphia Federal Reserve bank president Charles Plosser and other expert criticism of Fed chairman Bernanke's monetary policy.
01/04/2010
Plosser says the Fed cannot create jobs or retrain a workforce. In the short term the Fed can act against disinflation, says Plosser, but in the long term Fed policy such as the one being pursued by Bernanke can backfire and lead to more instability in the economy. The Dallas Fed President, Richard Fisher, expresses similiar views.
Grouped Articles
Martin Feldstein: The Federal Reserve's Policy Dead End
Wall Street Journal 05/09/2013
Once Again, the Fed Shies Away From the Exit Door
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Bhidé and Phelps: Central Banking Needs Rethinking
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Bravo for Bernanke and the QE Era
Wall Street Journal 01/20/2014
Wall Street Journal 01/18/2011
Wall Street Journal 02/09/2011
Criticism of Bernanke's role at the Federal Reserve
01/02/2009
The difficult renomination and the subsequent 70-30 vote with 30 Senators opposed including Boxer, Feingold, Sanders and others. This follows Ron Paul's criticisms in Congress of the Fed's role- see that link group.
Grouped Articles
Martin Feldstein: The Federal Reserve's Policy Dead End
Wall Street Journal 05/09/2013
Bhidé and Phelps: Central Banking Needs Rethinking
Wall Street Journal 07/16/2013
Fed Chairmanâs Departure Casts a New Light on the Bush Legacy
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Wanted: A Boring Leader for the Fed
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Wall Street Journal 09/15/2013
What's Needed in the Next Fed Chief
New York Times 09/15/2013
Growing criticism of the Federal Reserve's $600 billion QE II decision in 2010-2011.
08/12/2010
Grouped Articles
How QE 2 Could Drift Off Course
Wall Street Journal 08/12/2010
Bravo for Bernanke and the QE Era
Wall Street Journal 01/20/2014
Wall Street Journal 11/15/2010
More Presidents of Private Colleges Earn Over $1 Million
New York Times 11/15/2010
New York Fed President Defends Bond Buying Plan
New York Times 11/16/2010
Book Review - All The Devils Are Here - By Bethany McLean and Joe Nocera
New York Times 11/19/2010
Two different views of the Bernanke legacy at the U.S. Federal Reserve- Austin Goolsbee and the editors of Wall Street Journal
01/20/2014
Linked Articles
Wall Street Journal 01/28/2014
Bravo for Bernanke and the QE Era
Wall Street Journal 01/20/2014
Ben Bernanke and Austan Goolsbee offer reflections on the U.S. Federal Reserve's QE (Quantitative Easing) policies
01/16/2014
Linked Articles
Bravo for Bernanke and the QE Era
Wall Street Journal 01/20/2014
Reflections by America’s Buddha of Banking
New York Times 01/16/2014
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