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The Bernanke Legacy
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This WSJ editorial gives a different grade to Ben Bernanke than a recent article by economist Austin Goolsbee. It says Bernanke gets low marks for keeping interest rates low during 2003-2004 to fight the effects of the dot-com bubble collapse as advocated by Paul Krugman. He also gets low marks for not detecting the 2008 mortgage collapse early. Once the crisis started Bernanke gets high marks for taking action in 2008-2009. His bond buying efforts under QE policies pursued by the Fed need more time to evaluate says WSJ and it is too early to declare it a success as Goolsbee and others have done. How successful Janet Yellen is in unwinding the bond buying purchases will determine if this was good policy. If this ends up in another bubble and aftereffects or in inflation, the Bernanke legacy will be seen in a different light.
The Bernanke legacy at the U.S. Federal Reserve
11/04/2010
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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
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Wall Street Journal 01/28/2014
Bravo for Bernanke and the QE Era
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