Search Results
Showing results 1 to 1 of approximately 1.
(refine search)
Journal Article
Milton Friedman, Dissenter
At an event in 2002 in honor of Milton Friedman's 90th birthday, then-Fed chair Ben Bernanke offered him an olive branch of sorts on behalf of the Fed. "Regarding the Great Depression. You're right, we did it," Bernanke conceded. "We're very sorry. But thanks to you, we won't do it again."Bernanke's comment was an allusion to the 1963 book A Monetary History of the United States 1867-1960 by Friedman and economist Anna Schwartz, in which they argued that monetary policy led by the Fed had an enormous influence on the recessionary periods of the U.S. economy, including the Great Depression. ...