Ben Bernanke: ‘You’re Going to See Some Scary Number’

Former Fed Chairman Ben Bernanke was on CNBC this morning discussing the current crisis. Comparing the disaster of his reign, he said this is largely the opposite of the 2008 crisis; last time the financial system impacted the economy, this time it will be the economy impacting the financial system.

The public health issue is the most important one, if we can get that right, we can get the economy right.

Former Fed Chairman Ben Bernanke

Ben sees a quick turnaround if the economy can keep the workforce mostly in place and the timing is short lived. He stated this is unlike the great depression in that it’s more like a natural disaster than an economic related cause.

On the job of the current Fed team he said, “I think the Fed has been extremely proactive, and Jay Powell and his team have been working really hard and gotten ahead of this and shown they can set up a whole bunch of diverse programs that will help us keep the economy functioning during this shutdown period, so that when the all-clear is sounded, we will have a much better rebound than we otherwise would,”


Information for this briefing was found via the CNBC. The author has no securities or affiliations with any of the mentioned securities. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Fed Losing Control of Monetary Policy as Biden Admin Warns of ‘Extraordinarily Elevated’ Inflation Print

It’s official: the Fed has lost complete control over inflation, prompting the White House to...

Monday, April 11, 2022, 05:32:22 PM

Larry Summers Delivers Austerity Message While Reclining in Tropical Paradise

Former Treasury Secretary Larry Summers recently applauded the Federal Reserve for their stance on unemployment...

Friday, January 13, 2023, 02:22:00 PM

Federal Reserve’s Balance Sheet Hits Record High $7.04 Trillion

The Federal Reserve recently announced it has begun purchasing corporate bond exchange traded funds, and...

Friday, May 22, 2020, 08:20:41 AM

Federal Reserve Bans Policymakers From Stock Trading Following String of Controversies

After several high-profile controversies involving Fed officials including Fed Chair Jerome Powell himself taking part...

Friday, October 22, 2021, 10:09:00 AM

Jerome Powell Keeps Rates Unchanged at 5.5%

As was widely expected, the Federal Reserve decided to maintain the overnight rate at 5.5%....

Wednesday, September 20, 2023, 02:02:41 PM