Bernanke: Past century shows ‘central banking doctrine and practice are never static'

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The "overriding lesson" of the Federal Reserve's history is that "central banking doctrine and practice are never static", Fed chairman Ben Bernanke said on Wednesday in a speech marking the bank's 100th anniversary.

Speaking in Boston on the evolution over the past century of three key aspects of Fed policy-making – "the goals of policy, the policy framework, and accountability and communication" – Bernanke said that "the changes over time in these three areas provide a useful perspective... on

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