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Point: Regulation is a stabilizing force

Hersh Shefrin | January 8, 2019

The most important lesson former Fed Chair Ben Bernanke says he learned from the 2008 financial crisis is that for the Fed, financial regulation needs to have the same priority as monetary policy. The clear implication from this statement is that this was not the case before the crisis.

Bernanke was not the first economist to have made this argument....

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