Chairman Bernanke examines the Great Depression as a prolonged global event, marked by high unemployment, significant deflation, financial instability, and economic stagnation. He then analyzes and critiques the Federal Reserve’s response to the Great Depression, which failed to address the core problems of the time.
In this video, Chairman Bernanke describes the 1920s as the economic precursor to the Great Depression. Further, he describes the economic and financial conditions that characterized the Great Depression and explores its primary causes.
In this video, Chairman Bernanke discusses the Federal Reserve’s response to the Great Depression, evaluating the strengths and weaknesses of the Fed’s attempts to mitigate the economic and financial crises that characterized and prolonged the Great Depression. He addresses policies put in place by the Roosevelt Administration which eased the problems that exacerbated and prolonged the Great Depression. Finally, he discusses the policy lessons learned from the Great Depression.