Five years into the era of quantitative easing pioneered by departing Federal Reserve Chairman Ben S. Bernanke, two economists say they’ve measured how much extra stimulus the bond purchases provide when the main interest rate is already near zero.
The Federal Reserve’s annual monetary conference in Jackson Hole, Wyoming, will probably focus on global central banks as Ben S. Bernanke becomes the first Fed chairman to pass up the meeting since 1988.
Federal Reserve Vice Chairman Janet Yellen and former Bank of Israel Governor Stanley Fischer will moderate discussions this month at the Kansas City Fed’s Economic Policy Symposium in Jackson Hole, Wyoming.
Following is the text of remarks made by Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole, Wyoming.
Federal Reserve Chairman Ben S. Bernanke -- returning this week to the scene of a 2010 speech that foreshadowed a second round of quantitative easing -- probably will disappoint investors looking for him to signal new stimulus.