Ben Bernanke’s 8-Year Fed Odyssey

Ben Bernanke’s 8-Year Fed Odyssey

In a Bubble

Bernanke would eventually come under criticism for the Fed's failure to spot or prevent the subprime mortgage crisis that shook the economy as the housing bubble burst. He testified before Congress in March 2007 that "the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained." The reality made that assessment seem naive and out of touch.

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