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Chapter from: "Ben Bernanke's Fed: The Federal Reserve After Greenspan"
Published by: Harvard Business Publishing
Published in: 2008

Abstract

Most of Ben Bernanke's agenda for change at the Fed was clear as he entered the job. Perhaps the biggest surprise has been his strong embrace of a risk-management approach to policy - that is, basing policy not just on the most likely outcome for the economy, but also on the risks around that outcome. Other central bankers, including Alan Greenspan, also believed in risk management, but the Bernanke Fed has taken risk management to a new level. This chapter is excerpted from ‘Ben Bernanke's Fed: The Federal Reserve After Greenspan'.
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Abstract

Most of Ben Bernanke's agenda for change at the Fed was clear as he entered the job. Perhaps the biggest surprise has been his strong embrace of a risk-management approach to policy - that is, basing policy not just on the most likely outcome for the economy, but also on the risks around that outcome. Other central bankers, including Alan Greenspan, also believed in risk management, but the Bernanke Fed has taken risk management to a new level. This chapter is excerpted from ‘Ben Bernanke's Fed: The Federal Reserve After Greenspan'.

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