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Bernanke asked his audience to consider what might have happened if the Fed had given no signals on when the bond buying might be curtailed. He said that might have led to an increase in risk-taking on the part of investors "reflecting an expectation for an infinite" program of bond purchases. "Explaining what we are doing may have avoided a much more difficult situation at another time," he said. Bernanke also did not provide any clues on his own future. Many expect he will leave when his current term ends in January. When asked about his legacy, he said others would certainly judge his handling of the 2008 financial crisis. He also said the Fed, under his leadership, has made significant strides in providing the public with more information on how the central bank operates.
[Associated
Press;
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