Bernanke offers insight into Fed’s political balancing act
Former Fed chair tells of navigating both political and economic pitfalls in crisis response
Ben Bernanke shed light on the Federal Reserve's often difficult relationship with US Congress on October 28, warning the institution's independence is still not assured.
Addressing a packed auditorium at the London School of Economics, the former Fed chair described how the central bank had to navigate economic and financial collapse on the one hand and political pitfalls on the other, during the financial crisis.
"Politics was a very intense part of the situation," he said. At times
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