Friday, October 23, 2015

What Bernanke Kept in His Office While He Was Fed Chairman

Ben Bernanke tells  FT's Martin Wolf  during  lunch:

In the United States, we’ve had other episodes: most recently, the Volcker disinflation of the early 1980s. I had in my office a piece of wood, which critics mailed to Paul Volcker [then chairman] saying: cut interest rates.

The American Museum of Finance writes:
This piece of 2x4 wood was mailed to Volcker’s office as a part of a protest by building contractors and carpenters, who claimed their lumber was unneeded since no one was buying houses. Although Volcker is now widely credited with stabilizing the economy in the 1980s, 



  1. Well, that explains why they're nail bangers and he's a national hero.
    AKA Capn Mike
    (computer crash took my Google)

  2. Should have used Amazon Prime free shipping.