Bernanke rejects charge of Fed ‘throwing seniors under bus’
Bernanke, in first blog post, rejects accusation of Fed ‘throwing seniors under the bus’
Associated Press By Martin Crutsinger, AP Economics Writer
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WASHINGTON (AP) — Ben Bernanke no longer leads the Federal Reserve, but he’s hardly letting up in his defense of the ultra-low-rate policies he engineered — and his successor, Janet Yellen, has continued.
In his first post as a new blogger Monday, Bernanke struck back at critics who he said had charged the Bernanke Fed with, among other things, “throwing seniors under the bus” by keeping rates too low for too long.
He also disputed accusations that the Fed is still distorting financial markets and investment decisions by keeping rates “artificially low.”
Both criticisms, Bernanke wrote in “Ben Bernanke’s Blog,” reflect a misunderstanding of economic reality.
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So, how does he explain the “zero interest rate” policy impact on the retirement savings of seniors?
I know for a fact at least one senior who earned nothing on her capital savings and had to use the capital for expenses.
Now she has NOTHING but charity from the family.
Sorry, but the Gooferment and Wall Street have done just fine; her, not so much.
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