Well, this is interesting - a #Nobel to the man who brought us QE :)
https://twitter.com/NobelPrize/status/1579408493211422721
One of the reasons why Bernanke was chosen to run the Fed back in the day was his contribution to studying the Great Depression and the failures of central banks.
An error he did not repeat during his tenure..
An error he did not repeat during his tenure..
Very interesting timing on this one:
as the BoE is intervening heavily in the UK gilt market,
as US banks are facing $4bn of losses on bad loans,
as Credit Suisse is fighting its own liquidity crisis,
...
as the BoE is intervening heavily in the UK gilt market,
as US banks are facing $4bn of losses on bad loans,
as Credit Suisse is fighting its own liquidity crisis,
...
...the message from the Nobel Committee is: "their research helped make the banking system less vulnerable."
And
"The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts,"
Cool. Let's see if it holds :)
And
"The laureates’ insights have improved our ability to avoid both serious crises and expensive bailouts,"
Cool. Let's see if it holds :)
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