Ben Bernanke: U.S. may have had another recession without quantitative easing

Published January 3, 2014 5:00am ET



Outgoing Federal Reserve Chairman Ben Bernanke on Friday offered an aggressive defense of his legacy, pushing back against criticisms of the zero short-term interest rates and large-scale bond buying he instituted over the past few years.

Speaking at a conference for academic economists in Philadelphia, Bernanke responded to skeptics of the quantitative easing program who note that U.S. economic growth has been relatively slow despite the Fed’s efforts.

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