Bernanke who is

Before his appointment as chairman, Dr. From to , Dr. Bernanke had been a professor of economics and public affairs at Princeton since Before arriving at Princeton, Dr. Bernanke was an associate professor of economics and an assistant professor of economics at the Graduate School of Business at Stanford University.

His teaching career also included serving as a visiting professor of economics at New York University and at the Massachusetts Institute of Technology. Bernanke has published many articles on a wide variety of economic issues, including monetary policy, macroeconomics, and economic history, and he is the author of several scholarly books and two textbooks. Bernanke's work with civic and professional groups includes having served two terms as a member of the Montgomery Township N.

Board of Education. Since leaving the Federal Reserve, Dr. Since bond prices and interest rates are inversely related, interest rates fell in response to the higher prices. Ben Bernanke also helped to curb the effects of the rapidly deteriorating economic conditions by bailing out a number of troubled big financial institutions. While the Fed underwrote the decision to let Lehman Brothers fail, they bailed out companies, such as AIG Insurance, due to the higher risk that the bailed-out companies posed if they went bankrupt.

In the event that the company lost out on its speculative position on these derivatives, it would not have sufficient funds to pay out or cover its losses. For companies like Merrill Lynch and Bear Stearns, the Federal Reserve incentivized Bank of America and JPMorgan to purchase and take over both companies by guaranteeing the bad loans of the troubled banks.

In his book, The Courage to Act , Bernanke wrote about his time as chair of the Federal Reserve and exposed how close the global economy came to collapsing in , stating that it would have done so had the Federal Reserve and other agencies not taken extreme measures.

President Barack Obama has also stated that Bernanke's actions prevented the financial crisis from becoming as bad as it could have been. However, Bernanke has also been the subject of critics who claim he didn't do enough to foresee the financial crisis.

Economists criticized his pumping hundreds of billions of dollars into the economy through the bond-purchase program which potentially increased individual and corporate debt, and led to inflation. In addition to these economists, legislators also criticized his extreme measures and opposed his re-appointment as Federal Reserve Chair in President Barack Obama, however, re-appointed him for a second term.

As of April , Ben Bernanke is currently serving as an economist at the Brookings Institution, a nonprofit public organization based in Washington, DC, where he provides advice on fiscal and monetary policies.

He also serves as a senior advisor to Pimco and Citadel. Federal Reserve. Monetary Policy. Actively scan device characteristics for identification. Use precise geolocation data.

Select personalised content. Create a personalised content profile. Author of textbooks, scholarly articles and books on a variety of economic issues. January 31, - Confirmed by the Senate to succeed Greenspan as chairman of the Federal Reserve, Bernanke is appointed to a four-year term as chairman of the Federal Open Market Committee which expires January 31, He is also appointed to a year term as a member on the Board of the Federal Open Market Committee.

December 16, - Named Time's Person of the Year. Ben S. Bernanke is married and has two children. Yellen Chair Board of Governors — Federal Reserve History. Contact Us.