Next week we will discuss the role that Dr. Ben Bernanke has had on the global economy as the head of the Federal Reserve. Dr. Bernanke was previously an economics professor at Princeton before becoming the successor to Alan Greenspan at the Fed. The Fed, based in Washington, D.C., is an independent institution which controls U.S. monetary policy.
Instead of reviewing an academic paper this week, I am giving you a Feb 3, 2011 speech Dr. Bernanke made in Washington, D.C. on the current economic outlook, monetary policy, and also fiscal policy (controlled by Congress and the President). While much has happened since February, including ongoing developments in the European debt crisis and a downgrading of the U.S. credit rating by S&P, much of Bernanke's analysis still rings true today. You can view the paper online at:
http://www.federalreserve.gov/newsevents/speech/bernanke_speech_20110203.pdf
Happy Reading!
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