Bernanke The Bernanke Put

Ben Bernanke has provided the intellectual justification for the policy decisions of the Greenspan Fed. The former Princeton professor has also earned his credentials as a deflation fighter. If the current housing boom turns to bust, however, Bernanke’s unconventional measures are likely to strain the confidence of financial markets. In 1999, when the great bull market was gathering momentum, Bernanke co-authored an academic paper which argued that asset-price bubbles could only be identified i...