Bernanke & The Fed


How the Fed Flubbed It
An excerpt from The Atlantic by Sebastian Mallaby

On November 8, 2002, on the occasion of Milton Friedman’s 90th birthday, Ben Bernanke took a day off from his job as a governor of the Federal Reserve Board. Escaping the marble corridors of the Fed’s Washington redoubt, he journeyed to the University of Chicago to pay tribute to the great economist, and particularly to his work on the Depression. “You’re right,” Bernanke conceded, alluding to Friedman’s conclusion that the Fed’s foolishly tight policy had been responsible for the appalling hardships of the 1930s. “We did it. We’re very sorry. But thanks to you, we won’t do it again.”

The article is too long to post here, however, to download it click Bernanke