On the Reappointment of Ben Bernanke
A month ago - when the debate on Ben Bernanke’s potential reappointment as Fed chairman was still in its early stages - I wrote an op-ed for The New York Times supporting Bernanke’s reappointment.
This support was not unconditional. Bernanke and the Fed made many mistakes early on. They missed signs of the economic and financial tsunami and until the summer of 2007 they lagged in their policy response. As I put it:
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