The Fed Needs to Make This Move to Bale Out Wall Street

Bernake: The conventional view is that if the fed were just to leave interest rates alone, you would get spiralling inflation or deflation. But for over a decade, after the two thousand eight recess despite very low interest rates, inflation never really spiked. Inflation batted around one point seven to two %. Many policy makers viewed this as a success for the fed. So naturally, they continued to want the fed to keep taking the lead on dealing with issues of economic importance like recessions and inflation.