Former Federal Reserve chair Ben Bernanke has found that during a market panic,the rational thing to do is to panic along with everyone else.
The former US Federal Reserve chairman was among three economists to share the coveted prize.
The US sharemarket has tanked again on fears of stagflation and recession. The latest carnage came after America’s biggest retailers revealed plunging profits.
The four living former chairs of the Federal Reserve have issued a rare joint statement calling for the central bank to remain free of political interference.
Ten years on from the last financial crisis,there are fears that authorities have forgotten the past.