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Ben S. Bernanke - What the Fed did and why: supporting the recovery and sustaining price stability

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Ben Bernanke, Federal Reserve chairman's role in the Rescue Plan in the global financial crisis Sept-October 2008.

10/14/2008

Bernanke's role in the financial crisis of Sept 2008.

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Reflections of Ben Bernanke on his handling of the 2008 financial crisis and quantitative easing (QE)

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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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