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New at Reason: Penn Bullock on How Milton Friedman Influenced Fed Chairman Ben Bernanke
The New
York Times has described Federal Reserve Chairman Ben Bernanke
as "a student, if not necessarily a devotee of the British
economist John Maynard Keynes." But as Penn Bullock writes,
Bernanke is actually a disciple of Nobel laureate and libertarian
patron saint Milton Friedman. Bernanke has repeatedly invoked the
late libertarian economist in support of lowering interest rates to
zero, bailing out banks, and pumping untold trillions of dollars
into the financial system.
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