Bernanke's helicopter could move to new altitude

In an all-out effort to get the economy moving again, Federal Reserve Chairman Ben Bernanke may be getting ready to take his money-creating helicopter to a new altitude.

Bernanke earned the moniker "Helicopter Ben" after the then-Fed governor referenced Milton Friedman's famed "helicopter drop" favorably in a 2002 speech outlining how the Fed could defeat deflation.

(Friedman had argued hypothetically that a central bank could drop currency from a helicopter to stimulate spending.) See external link to Bernanke's 2002 speech.

Nearly eight years on from that speech, Alan Greenspan's successor is due Friday at 10 a.m. Eastern to deliver another vital keynote at the Kansas City Fed's annual symposium in Jackson Hole, Wyo., with the straightforward title, "The Economic Outlook and the Federal Reserve's Policy Response."

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- Posted: 2010-08-26 00:28:48

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