Fed Chairman Ben Bernanke was here earlier to give a speech marking the 75th anniversary of the Woodrow Wilson School. Replete with economic theory and economic history, Bernanke’s speech really demonstrated his strong grasp of both subjects. The speech also demonstrated how obscure monetary policy is. I hope because of this speech, more Woodrow Wilson majors will choose the less mainstream path of studying monetary policy. There’s definitely more to it than what they teach in eco101.
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