Economics
Bernanke Plays Down Stocks Selloff, Dismisses Crisis Comparison
- Former Fed chief say he was surprised by long calm in markets
- Current risks don’t resemble those facing U.S. during crisis
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Former Federal Reserve Chairman Ben Bernanke isn’t worried about the recent selloff in U.S. equities. In fact, he isn’t even surprised.
“I don’t think this is way out of the range of relatively normal behavior -- we have uncertainty about trade, we’ve got uncertainty about the global economy, we’ve got uncertainty about the near-term path of the U.S. economy,” Bernanke said Saturday during a panel discussion with former Treasury Secretaries Henry Paulson and Timothy Geithner. “Markets absorb that uncertainty and reflect that.”