A Bit of History… Bernanke 2003

This video of a speech by Ben Bernanke in 2003, is quite interesting. In the speech he laid the groundwork for what would eventually be his policy to combat the Great Recession. He talked about inflation, slack in the economy, price stability and even the possibility of taking the Fed funds rate to the zero lower bound in 2003. He made a case for loose monetary policy in the context of longer run trends.