Ben Bernanke Has Regrets

As nice it was to spend eight years saving the economy and testing the proposition that there are no stupid questions during sessions with various congressional committees, gentle Ben would just as soon trade them for the quiet times at Fisher Hall.

Although most of his comments were directed at the Fed’s moves that led to low policy rates and quantitative easing, he did allow himself some levity when asked on what his regrets were.

“Taking the job,” Mr. Bernanke initially said to a round of laughter.

He’ll be here all week. But seriously, the humble Beard—unlike the man who appointed him—would do a few things differently.

Asked what his main regrets were since leaving the Fed’s chairmanship, Mr. Bernanke said that, despite numerous television and print interviews, he would have liked to have done a better job telling the U.S. public that the Fed’s extraordinary measures were done for the greater good of the U.S. economy.

“It’s unfortunate,” Mr. Bernanke said. “It was important for us to convey to the public that the Fed’s actions were important to the broader economy.”

Mr. Bernanke also said the U.S. economy is making considerable progress in its recovery, and neither inflation nor deflation presented any major risks to U.S. growth.

Which means it’s a good thing that his former right-hand gal is staying the course.

Federal Reserve officials are on track to reduce their monthly bond buying to $45 billion at their policy meeting next week and stick with a communications approach that leaves investors guessing about when the central bank will start raising short-term interest rates.

Bernanke Says Fed Actions Could Have Been Better Communicated to Public [WSJ]
Fed Looks Likely to Stick to Policy Path [WSJ]

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8 Responses to “Ben Bernanke Has Regrets”

  1. omoh says:

    I don't regret giving Shazars sister a fart hammer.

  2. Activist Doomsayer says:

    Bernanke can say that now, but 15 years from now when the world still has zirp and we are still grinding our wheels to achieve nothing, he won't be talking about how he saved anything.

    • Captain Oblivious says:

      Was there a better idea at the time? I don't remember anyone piping up with anything clever. Where was Jim Cramer on this he always has good insight on the markets……

      BTW I would have mushroom stamped Shazar's sister

      • The Bobs says:

        What if – and believe me this is a hypothetical – but what if we did the capitalist thing (you know, that thing all us finance people talk about) and let the banks eat shit? Like, you know, not reward failure? Would that do anything for you?

  3. Jeff Mackerel says:

    He once saved a cat from a burning tree and then gave said cat to a cat molester.