Bernanke in a Fog Again
It was not clear to Bernanke in 2007 that there was a raging housing bubble either.
In fact, he denied there was one.
Why Are We Still Listening to This Guy?
- March 3, 2019: Ben Bernanke, the Father of Extreme US Socialism
- October 17, 2015: Ben Bernanke: Superman or Fool?
- Jan 6, 2020: Ben Bernanke Just Won't Stop Making a Fool Out of Himself
In the above link Bernanke says that forwards guidance won't work if the neutral rate is below 2%. Amusingly, his solution is to raise forward guidance.
100% Proven Track Record
Ben Bernanke has a 100% track record of denying bubbles.
Moreover, even in retrospect, he cannot and will not self-assess.
He will not admit that absurd Fed policies helped span the dot-com bubble and 100% created the housing bubble.