Ben Bernanke on asset price bubbles

SPEECH - In the speech 'Asset-Price "Bubbles" and Monetary Policy' made on 15 October Ben Bernanke of the Federal Reserve said the Fed lacked the knowledge, foresight or precision tools to pre-empt a stock market bubble, "and even if it could identify bubbles, monetary policy is far too blunt a tool for effective use against them".

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Remarks by Federal Reserve Governor Ben S. Bernanke before the New York Chapter

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