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by cyberax 1 day ago
I'm talking about the rate hikes in 2010-2011 after the economy started picking up.

It caused the double-dip recession in 2012: https://www.macrotrends.net/global-metrics/countries/euu/eur... and https://www.statista.com/statistics/621489/fluctuation-of-fi...

The actions of the ECB caused at least 10 years of misery for Europe. The 2008 crisis was inevitable, but the US bounced back from it within 2 years. While Europe is _still_ not fully recovered.

Bernanke deserves a lot of credit for that. He was brave enough to ignore the deficit hawks who were screaming about "inflation" and "debasing the dollar".