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21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19
Only Alan Blinder, once a Fed vice chairman and a former Princeton colleague of Bernanke’s, defended the Fed. Blinder told this tale:
Andrew Ross Sorkin • Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves
Le 15 mars, Jay Powell, le gouverneur de la banque centrale étatsunienne, la Fed, est contraint à un speech d’une ampleur équivalente au « quoi qu’il en coûte » de Mario Draghi. Le 18 mars, la BCE emboîte le pas et met en œuvre une injection gigantesque de liquidités dans le système financier via plusieurs facilités dont la principale est le Pandem
... See moreBenjamin Lemoine • La démocratie disciplinée par la dette (French Edition)
A century later, Ben Bernanke reignited this debate with his frantic acquisitions of mortgage securities, Treasury bonds, and also the very commercial paper of which Paul Warburg was so enamored.
Roger Lowenstein • America's Bank
Former Fed chairman Ben Bernanke may be correct that these measures averted an economic collapse worse than the Great Depression. But they worked largely by further exacerbating income and wealth inequality, something that did not happen in the years following 1929. And they rendered the economy dependent on ever-higher doses of stimulus—leaving it
... See moreNeil Howe • The Fourth Turning Is Here: What the Seasons of History Tell Us about How and When This Crisis Will End
