Jan 27, 2010

Frederic S. Mishkin: "Bernanke helped save the world from depression"

My view is Chairman Bernanke helped save the world from depression. Whether you agree with every policy he’s pursued or some of the ways the bailouts were done, the outcome here, given the severity of the shock, is a good one. But that’s hard to explain to the American public when we’re sitting with 10 percent unemployment.

~ Frederic S. Mishkin, a former member of the Fed’s board of governors, economist at Columbia University, and close friend of Mr. Bernanke, "Bernanke’s Bid for a Second Term at the Fed Hits Resistance," The New York Times, January 22, 2010, by Sewell Chan and David Herszenhorn

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