Former US Federal Reserve chair Ben Bernanke offered rare criticism of the country’s central bank on May 16, saying policy-makers acted too slowly to curb inflation.
“Forward guidance, I think, overall, on the margin slowed the response of the Fed to the inflation problem last year,” said Bernanke. “In retrospect, yes, it was a mistake.”
Fed officials recently sought to defend their actions by arguing that forward guidance had helped generate an early response to inflation.
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