The speed and scale of the economic crash have drawn comparisons to the Great Depression. But this downturn should be shorter, former Fed Chairman Ben Bernanke and other economic historians say.
The Federal Reserve has moved quickly and creatively to pump money into the rapidly shrinking U.S. economy in hopes of keeping it afloat long enough to outlast the coronavirus pandemic.
The Federal Reserve in October will begin unwinding the extraordinary stimulus it used to battle the Great Recession. That means that over the long run, rates on car loans and mortgages could go up.
Former Federal Reserve Chairman Ben Bernanke discusses the contradictory partisan divide in people's views of the economy, the economy's health and the problem of those left behind by economic change.
The former Fed chair told an audience in Chicago that he was unable to refinance his home loan, adding that lenders "may have gone a little bit too far on mortgage credit conditions."