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Comment: Bernanke Paints Crisis as a ‘Classic Panic’

Comment: Bernanke Paints Crisis as a ‘Classic Panic’

by Kerry Pechter

Tue, Aug 25, 2009

"Although a panic may be collectively irrational, it may be entirely rational at the individual level," said the Fed chairman.

Comment: The High Price of Low Rates

Comment: The High Price of Low Rates

by Kerry Pechter

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.