Wednesday, December 2, 2009
FED: Bubble Fighter
É impressionante, agora o FED vai mudar de política e tentar identificar e acabar com as bolhas especulativas. O curioso é que Bernanke fez fama e carreira defendendo o oposto. O que mostra quão pouco os acadêmicos entendem de banco central e de mercados financeiros: Mr. Bernanke helped to launch his central-banking career while a Princeton University professor in 1999 with a paper he presented to Fed officials at their annual Jackson Hole, Wyo., conclave, in which he warned against trying to prick bubbles. Mr. Bernanke and his co-author, Mark Gertler, a New York University economist, argued that the Fed should focus on controlling inflation, not trying to manage the cycle of booms and busts.