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Wednesday, June 04, 2008

Bernanke at Harvard: Not the 70s

Bernanke delivered his commencement speech at Harvard today. His speech was not at all inspiring and quite boring actually for such an occasion (notice how many students were yawning in the background).

He echoed similar view as Janet Yellen, that today's situation is very different from 70s, notably, there is no wage-price spiral and inflation expectation remains low albeit increased quite a bit recently.

Read analysis from wsj here, video of the speech here.