At a time when even Fed Chairman Ben Bernanke predicts that unemployment will cross 10 percent (he has consistently underestimated the severity of the downturn) does it make sense for him to be warning the public that: "you get much better results," when the Fed operates without congressional oversight?
The Fed's failed monetary policy brought on the worst downturn since the Great Depression. It would be reasonable for the media to be pointing out the irony in Bernanke's warning. This is a bit like the old GM warning of bad results if its management was not left alone.
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved
