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pillich (19)

Friday, November 5, 2010

Bernanke Defends Fed’s Buying Plan in Face of Criticism Abroad, - NYTimes.com

Bernanke Defends Fed’s Buying Plan in Face of Criticism Abroad, - NYTimes.com: "The public comments of Fed officials suggested an acute awareness of the potential drawbacks of the decision. “We are still rewriting the narrative, and gaining an understanding, of what happened in the Great Depression and why,” said Charles I. Plosser, president of the Federal Reserve Bank of Philadelphia. “No doubt it will be at least 50 years before we understand very well what happened in 2008 and 2009 and whether the Federal Reserve undertook the right policies or the wrong policies.”"