On November 4, an op-ed article written by Ben Bernanke, “What the Fed Did and Why: Supporting the Recovery and Sustaining Price Stability,” was published in the Washington Post. In this article, Bernanke presents an apologia for the Fed’s decision to undertake QE2, the purchase of $600 billion of longer-term U.S. government bonds during...
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Of course, in practice it will never be this simple. Click the image to download the high resolution pdf. HT to Mike Rozeff and LewRockwell.com.