Central bankers under siege

Poor Ben Bernanke! As chairman of the US Federal Reserve board, he has gone further than any other central banker in recent times in attempting to stimulate the economy through monetary policy. He has cut short-term interest rates to the bone. He has adopted innovative new methods of monetary easing. Again and again, he has repeated that so long as inflationary pressure remains contained, his main concern is the high level of US unemployment.

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