Ben Bernanke Reduced American Wealth By 14%

With Ben Bernanke's chairmanship of The Federal Reserve set to expire at the end of January, it is prudent that we examine his seven years at the helm of America's central bank in order to see what lessons can be learned going forward. When Bernanke's legacy is objectively studied, it is clear that his chairmanship has been a mediocre one, even by the Fed's own standards. The purpose of the Federal Reserve is outlined in the bank's dual mandate; to stabilize the value of the dollar, and to curtail unemployment. Although much attention has been paid to the latter of the mandates (and it is understandable why American's are aware of our stubbornly high unemployment numbers) there has been precious little focus on the Fed's initial mandate of stabilizing the value of the dollar. When it comes to maintaining the value of the dollar, the Bernanke Fed has had about as much success as in their efforts to lower unemployment to pre-recession levels. Using the eye-opening tool available...(Read Full Article)

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