Bernanke: low rates didn’t spur housing bubble
Ben Bernanke, the chairman of the Federal Reserve, on Sunday blamed regulatory, not monetary, laxness for the housing bubble.
Critics have sought to blame the Fed for the financial crisis, claiming too-low interest rates set to spur growth in the aftermath of the bursting of the dotcom bubble caused the credit crunch. However, Bernanke disputed this, arguing that the federal funds rate was in line with the Taylor Rule for monetary policy - the standard means to test the suitability of rates for
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