"The actions taken by central banks and other authorities to stabilize a panic in the short run can work against stability in the long run if investors and firms infer from those actions that they will never bear the full consequences of excessive risk-taking."
Ben Bernanke is an American economist who served as chair of the U.S. Federal Reserve from 2006 to 2014. He played a central role in monetary policy during the global financial crisis and later received the Nobel Memorial Prize in Economic Sciences.