by RAY FLEMING THE man who failed to stop or slow down the global recession from which the world is only just beginning to recover was yesterday reappointed to his job as Chairman of the US Federal Reserve for a further four years by President Obama. That may sound like a harsh judgement on Ben Bernanke but many qualified observers believe that he was insufficiently aware of what was happening to the US economy as a result of the bubble in the housing market and was too complacent about the ability of Wall Street to survive the looming danger. On the other hand there is general agreement that he was justified in a speech last week to claim that once the dam broke the Fed responded with speed and force to arrest a rapidly deteriorating and dangerous situation.
FOUR MORE YEARS
30/08/2013 00:00
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