Ben Bernanke's Lessons From 'The Great Inflation'
The party's over. Over the last few weeks, asset prices have tumbled, and investors in stocks, bonds, cryptocurrencies — pretty much everything — have been forced to wake up and face the brutal hangover of collapsing fortunes. Who broke up the rager? Largely, it seems, a little institution called the U.S. Federal Reserve, which has begun to raise interest rates and tighten monetary policy in order to wrangle inflation. What a buzzkill.
What is this mysterious institution? How has it evolved to play this important role in our society? Why does it, as one former Fed official put it, seek to have "the punch bowl removed" at moments like this? And what happens when it doesn't?
Well, the former Fed Chairman Ben Bernanke has some answers. Amid the downturn, Bernanke has swooped in and published a new book: . They say it's impossible to time the market,
