Then there are all the jostling’s over the rescue of financial institutions (that should be the boring part of the book) and how the Fed avoided a second Great Depression.
I wonder if Bernanke will conclude that “non-monetary” forces were responsible for the big fall in employment and depressed state of output that characterizes his tenure.
That wouldn´t surprise me. He has done it before regarding the Great Depression with his famous article “Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression”.
Read the whole article here.