In early October 2015, former Federal Reserve Chairman Ben Bernanke stopped by the op-ed pages of the Wall Street Journal on his way to taking his victory lap. Poised for the first time in too long a time, the Federal Reserve under his immediate successor was about to hike policy rates fulfilling, in central bank terms, an unbelievably long quest to get the US economy to recover from the Great “Recession.”
A quest that in 2015 had already been surprisingly lengthened…by something. Never mind these other “transitory” factors threatening to spoil the fun, Bernanke wrote, rather focus on the hero. Bernanke.
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