Feb 18, 2008

Ben Bernanke on the Fed's role in causing the Great Depression

I would like to say to Milton [Friedman] and Anna [J. Schwartz]: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

~ Ben Bernanke, "On Milton Friedman's Ninetieth Birthday," At the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois, November 8, 2002

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