Ben Bernanke, Fed chairman, successful, Parkite says
Carol Carter, completing five years of service on the board of directors of the Salt Lake City branch of the Federal Reserve Bank of San Francisco, said Fed Chairman Ben Bernanke’s policies have been successful.
Carter is a supporter of Bernanke and she praises his response to the financial crisis of 2008. She joined the Salt Lake City board of directors at the beginning of 2008, less than a year before the crisis erupted that fall, and served as the Fed crafted its response.
She said Bernanke’s background as a scholar of the Great Depression was important as the Fed handled the economy in the period since the fall of 2008.
"I think his policies did help us through the recession and not dropping down to a depression," Carter, a business executive who lives in Old Town, said.
She supports the Fed maintaining low interest rates and backs the policy of quantitative easing, essentially the Fed bond-buying program. The low interest rates, she said, has spurred borrowing by businesses and individuals.
Carter has met Bernanke numerous times. She said he is "an amazing diplomat." She said he addresses people in plain terms.
"He just doesn’t get so caught up in the mathematical aspects," she said. "He speaks to you on a level you and I can understand him easily."
Support Local Journalism
Readers around Park City and Summit County make the Park Record's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Each donation will be used exclusively for the development and creation of increased news coverage.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
In a time of crisis, the county manager has broad powers. But officials say most haven’t been used during COVID-19 pandemic.
County officials have broad emergency powers to respond to the crisis and protect county residents’ health, safety and welfare. Officials say more of the extreme powers, like establishing a curfew or setting the price on goods, have not been considered.