Bernanke Won the Nobel, but Is His Bubble About to Burst?
https://foreignpolicy.com/2022/10/13/nobel-bernanke-legacy-economics-finance-crisis/
We’re still living in the world he created. It may soon cost us.
Bernanke may have been too influential. His Fed successors, Janet Yellen and now Jerome Powell, might have kept his policies going for far too long. What worked to stabilize markets back then may be fuel on the fire now. Following Bernanke’s lead, Yellen and Powell transformed the Fed from a central bank into a fiscal policymaker, with a massive quantitative easing (QE) program and the perpetuation of rock bottom interest rates. This led to the easy money bubble—call it the “Bernanke bubble”—that has helped feed today’s inflation, with consumer prices rising this month to a 40-year high.
---
