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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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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln