Present doesn't mirror 1970s: Bernanke

The differences between the US economic landscape of the mid-1970s and the present are more pronounced than the similarities, Ben Bernanke, the chairman of the Federal Reserve, said.

"Then as now, we were experiencing a serious oil price shock, sharply rising prices for food and other commodities, and subpar economic growth," Bernanke said. "But I see the differences between the economy of 1975 and the economy of 2008 as more telling than the similarities."

"Today's situation differs from that

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