Blinder, Alan S.; Ehrmann, Michael; Fratzscher, Marcel; … - 2008
Fed Chairman Ben Bernanke, stating that his recent
Congressional testimony had been misinterpreted, was reported, markets … expected future rates becomes the
essence of monetary policy (Ben S. Bernanke, Vincent Reinhart and Brian Sack 2004; Gauti … reacted strongly—
as investors concluded that Bernanke was “reversing himself” and saying that interest rates
could easily go …