Comment: Bernanke Paints Crisis as a ‘Classic Panic’
Tue, Aug 25, 2009
"Although a panic may be collectively irrational, it may be entirely rational at the individual level," said the Fed chairman.
Tue, Aug 25, 2009
"Although a panic may be collectively irrational, it may be entirely rational at the individual level," said the Fed chairman.
Wed, Aug 12, 2009
A low interest rate policy, while necessary in a crisis, acts as a tax on the average person and plants the seed for the next credit crisis, according to two NBER Working Papers published in July.