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Article: FEDERAL RESERVE BOARD OF GOVERNORS CHAIRMAN BEN BERNANKE DELIVERS REMARKS TO THE FEDERAL RESERVE BOARD CONFERENCE ON DEVELOPMENTS IN MONETARY POLICY
- Article from:
- Political Transcript Wire
- Article date:
- October 8, 2009
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FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS CHAIRMAN BEN BERNANKE DELIVERS REMARKS TO THE FEDERAL RESERVE BOARD CONFERENCE ON DEVELOPMENTS IN MONETARY POLICY, AS RELEASED BY THE FEDERAL RESERVE
OCTOBER 8, 2009
SPEAKER: FEDERAL RESERVE SYSTEM BOARD OF GOVERNORSCHAIRMAN BEN BERNANKE
[*] BERNANKE: To fight a recession, the standard prescription for a central bank is to lower its target short-term interest rate, thereby easing financial conditions and supporting economic growth. In the current downturn, however, the Federal Reserve has faced two historically unusual constraints on policy. First, the financial crisis, by increasing ...