Huffpost Business

Bernanke's WSJ Op-Ed: Our Exit Strategy

Posted: Updated:

The depth and breadth of the global recession has required a highly accommodative monetary policy. Since the onset of the financial crisis nearly two years ago, the Federal Reserve has reduced the interest-rate target for overnight lending between banks (the federal-funds rate) nearly to zero. We have also greatly expanded the size of the Fed's balance sheet through purchases of longer-term securities and through targeted lending programs aimed at restarting the flow of credit.

These actions have softened the economic impact of the financial crisis. They have also improved the functioning of key credit markets, including the markets for interbank lending, commercial paper, consumer and small-business credit, and residential mortgages.

Get HuffPost Business On Facebook and Twitter!

Read the whole story at wsj.com

Around the Web

Ben Bernanke - Wikipedia, the free encyclopedia

FRB: Chairman Bernanke

Bernanke Sees Hopeful Signs but No Quick Recovery - NYTimes.com

CIT rescue hopes give stocks another boost

Larry Summers in Winter