Tags » FOMC
Last week I posted an item summarizing Matthew O’Brien’s article about the just-released transcripts of FOMC meetings in June, August and September of 2008. I spiced up my summary by quoting from and commenting on some of the more outrageous quotes that O’Brien culled from the transcripts, quotes showing that most of the FOMC, including Ben Bernanke, were obsessing about inflation while unemployment was rising rapidly and the economy contracting sharply. 1,120 more words
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In December 2008, Ben S. Bernanke, the self-effacing chairman of the Federal Reserve, declared war against a cascading recession that the Fed was late to see coming and took charge as general.