Ben Bernanke

Ben Shalom Bernanke[2] (/bərˈnæŋki/ bər-NANG-kee; born December 13, 1953) is an American economist at the Brookings Institution[3] who served two terms as the 14th Chair of the Federal Reserve, from 2006 to 2014.[4] During his tenure as chair, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis, for which he was named the 2009 Time Person of the Year.[4] Before becoming Federal Reserve chair, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave.[4]

Ben Bernanke
14th Chair of the Federal Reserve
In office
February 1, 2006  January 31, 2014
PresidentGeorge W. Bush
Barack Obama
DeputyRoger Ferguson
Donald Kohn
Janet Yellen
Preceded byAlan Greenspan
Succeeded byJanet Yellen
Member of the Federal Reserve Board of Governors
In office
February 1, 2006  January 31, 2014
Nominated byGeorge W. Bush
Preceded byAlan Greenspan
Succeeded byStanley Fischer
In office
July 31, 2002  June 21, 2005
Nominated byGeorge W. Bush
Preceded byMike Kelley
Succeeded byKevin Warsh
23rd chair of the Council of Economic Advisers
In office
June 21, 2005  January 31, 2006
PresidentGeorge W. Bush
Preceded byHarvey Rosen
Succeeded byEdward Lazear
Personal details
Born
Ben Shalom Bernanke

(1953-12-13) December 13, 1953 (age 67)
Augusta, Georgia, U.S.
Political partyRepublican (before 2015 or earlier)
Independent (2015 or earlier–present)
Spouse(s)Anna Friedmann
Children2
EducationHarvard University (AB, AM)
Massachusetts Institute of Technology (PhD)
Academic career
FieldMacroeconomics
School or
tradition
New Keynesian economics
Doctoral
advisor
Stanley Fischer[1]
Information at IDEAS / RePEc

From August 5, 2002, until June 21, 2005, he was a member of the Board of Governors of the Federal Reserve System, proposed the Bernanke doctrine, and first discussed "the Great Moderation" — the theory that traditional business cycles have declined in volatility in recent decades through structural changes that have occurred in the international economy, particularly increases in the economic stability of developing nations, diminishing the influence of macroeconomic (monetary and fiscal) policy.

Bernanke then served as chairman of President George W. Bush's Council of Economic Advisers before President Bush nominated him to succeed Alan Greenspan as chairman of the United States Federal Reserve.[5] His first term began February 1, 2006.[6] Bernanke was confirmed for a second term as chairman on January 28, 2010, after being renominated by President Barack Obama, who later referred to him as "the epitome of calm."[7] His second term ended January 31, 2014, when he was succeeded by Janet Yellen on February 3, 2014.[8]

Bernanke wrote about his time as chairman of the Federal Reserve in his 2015 book, The Courage to Act, in which he revealed that the world's economy came close to collapse in 2007 and 2008. Bernanke asserts that it was only the novel efforts of the Fed (cooperating with other agencies and agencies of foreign governments) that prevented an economic catastrophe greater than the Great Depression.[9]