New Books in Economics
Ben Bernanke: “Like being a paleontologist”
May 2, 2025
David Wessel, a two-time Pulitzer Prize-winning journalist and director at the Brookings Institution, dives into the tumultuous years of Ben Bernanke's tenure at the Fed. He reflects on the impact of Bernanke's deep understanding of the Great Depression on his decision-making during the 2008 financial crisis. Wessel reveals the complexities of inflation targeting and the personal toll on leaders navigating economic turmoil. He also discusses critical choices, like the failure of Lehman Brothers, and how these decisions shaped public perception of the Federal Reserve.
44:27
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Quick takeaways
- Ben Bernanke's unique background as a historian of the Great Depression unexpectedly equipped him with valuable insights during the 2008 financial crisis.
- The collaboration of the 'Four Musketeers' during the financial crisis highlighted the necessity of quick, decisive leadership despite criticisms of lacking diverse perspectives.
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