Bernanke says Fed acted too slowly on inflation

Former Fed chair argues forward guidance hampered Fed’s response to rising prices

Ben Bernanke
Ben Bernanke
Photo: US Fed/Wikimedia Commons

Former US Federal Reserve chair Ben Bernanke offered rare criticism of the country’s central bank on May 16, saying policy-makers acted too slowly to curb inflation.

“Forward guidance, I think, overall, on the margin slowed the response of the Fed to the inflation problem last year,” said Bernanke. “In retrospect, yes, it was a mistake.”

Fed officials recently sought to defend their actions by arguing that forward guidance had helped generate an early response to inflation.


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