We can beat this crisis

Courtesy Economic news - CNNMoney.com  Mon, 10/13/2008 - 05:40

On Nov. 21, 2002, just two months after leaving Princeton University's economics department for a spot on the Federal Reserve Board, Ben Bernanke gave a speech in Washington on the topic of deflation.

At the time, stock prices had been falling for almost two years straight, inflation was just 2%, and there was widespread worry that it would drop into negative territory.

The specter of Japan, beset for a decade by falling prices and economic stagnation, was on the minds...

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