History likely to vindicate Fed's crisis policies, says Bernanke


Quantitative easing is a "basic monetarist principle" and not much different from traditional open market operations, outgoing Federal Reserve chairman Ben Bernanke told an audience at the Brookings Institution in Washington DC on Thursday. Bernanke indicated history would vindicate the Fed's unconventional policies in the wake of the financial crisis, which he said were designed to "help the average American".

The problem with quantitative easing (QE) is that it "works in practice but it doesn'

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