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You are here: Home»Business»Banking & Finance»Bernanke says low nominal rates don't mean policy is easy

Ben-Bernanke_400SAN FRANCISCO: Federal Reserve Chairman Ben Bernanke on Friday said one key lesson from the Great Depression is that in times of economic distress, the numerical level of interest rates can be a misleading indicator of monetary stimulus levels.

"Monetary policy needs to be accommodative and not too tight, and you need to be careful about confusing low nominal interest rates with easy policy, which was a mistake that was made in the '30s," he told a conference at the San Francisco Fed. "Low nominal interest rates don't necessarily mean that policy is all that easy."

Copyright Reuters, 2013


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln