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Thursday, January 7, 2010

Bernanke faces mounting criticism after speech

There is mounting criticism of Federal Reserve Chairman Ben Bernanke's claim that low interest rates didn't cause the recent housing bubble.

During a speech to the American Economic Association's annual meeting in Atlanta Sunday, Bernanke called linkages between the Fed's monetary policy and the housing boom “weak.” But economists, newspaper editorial boards and some 2010 candidates are questioning the Fed chairman's reasoning.

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Comment: Bankman Bernanke who totally missed the oncoming collapse is now telling us that low interest rates didn't have a role in it. I'm glad he has the credibility to make such a claim...

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