MacroEcon Paper 1 - Christie Leigh Fountian Professor...

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Christie Leigh Fountian Professor Kassis April 16, 2008 Econ 2105 (9:30-10:45) Lessons from the Depression Peter Coy writes an article entitled, Lessons from the Depression. Coy explains the background of Fed Chief Ben Bernanke’s as a student of the harsh and time consuming period of the Great Depression. It also proposes how he aims to not replicate mistakes made in the early period time. He diligently studied and wrote many papers on how the Great Depression originated and derived from such an accomplished nation. Bernanke concluded that the actions taken by the Federal government to increase interest rates during the depression in reality lengthen it. As a result of studying this time period extensively he has seen a pattern in our existing economic predicament. As a response to our current financial crisis, he has projected a course of lower interest rates. Due to Bernanke creating this plan it also brings about many concerns of inflation and the deteriorating value of the dollar. If the supply of money from the Fed’s is held at a
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MacroEcon Paper 1 - Christie Leigh Fountian Professor...

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