Abstract
Former Fed chairman Ben Bernanke has written a retrospective on the Fed that should be of interest to those in the Austrian school tradition. Bernanke makes numerous admissions, such as the fact that several U.S. presidents pressured the Fed to pursue inflationary policies, and the fact that the Fed contributed to the Great Recession. Yet he seems incapable of comprehending the Fed's inherent problems, exhibiting a state of denial about recent failures.
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