Ben Shalom Bernanke (b. June
6,1963)
Ben Bernank was (b. December 13, 1953)
is a former Chairman of the United States Federal
Reserve. Bernanke is a Republican originally appointed to
the Chairmanship of the Federal Reserve by President
George W. Bush in October 2005. Bernanke at that time
served as chairman of President Bush’s Council of
Economic Advisers. Following his confirmation by the U.S.
Senate, Bernanke succeeded Alan Greenspan on February 1,
2006. Chairman Bernanke was nominated for a second term
by President Barack Obama in 2009 but many Senators
oppose Bernanke's renomination due to concerns over the
health of the economy and Bernanke's role in dealing with
the Great Recession . In 2009, Bernanke was declared the
TIME magazine person of the year.
Critics point to Bernanke's long
history as a member of the government's economic
infrastructure over the years as evidence that at least
some of the blame for the Mortgage
Crisis that propelled the
world into the Great Recession belongs on Bernanke's
shoulders.
Before his appointment as Chairman,
Dr. Bernanke was Chairman of the President's Council of
Economic Advisers, from June 2005 to January 2006. He
served as the Chairman of the Federal Reserve from 2006
to 2014. He was succeeded in that position by Janet
Yellen. After leaving the Fed, Bernanke wrote a book,
The Courage to Act. Published in 2015, Bernanke's
book reveals that he believed that the world's economy
came very close to collapsing in 2007 and
2008.
Prior to his nomination as Fed
Chairman in 2006, Ben Bernanke had already worked within
the Federal Reserve System in several roles. He was a
member of the Board of Governors of the Federal Reserve
System from 2002 to 2005; a visiting scholar at the
Federal Reserve Banks of Philadelphia (1987-89), Boston
(1989-90), and New York (1990-91, 1994-96); and a member
of the Academic Advisory Panel at the Federal Reserve
Bank of New York (1990-2002).
From 1994 to 1996, Ben Bernanke was
the Class of 1926 Professor of Economics and Public
Affairs at Princeton University. He was the Howard
Harrison and Gabrielle Snyder Beck Professor of Economics
and Public Affairs and Chair of the Economics Department
at the university from 1996 to 2002. Dr. Bernanke had
been a Professor of Economics and Public Affairs at
Princeton since 1985.
Before arriving at Princeton, Ben
Bernanke was an Associate Professor of Economics
(1983-85) and an Assistant Professor of Economics
(1979-83) 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
(1993) and at the Massachusetts Institute of Technology
(1989-90).
Ben Bernanke has published many
articles on a wide variety of economic issues, including
monetary policy and macroeconomics, and he is the author
of several scholarly books and two textbooks. He has held
a Guggenheim Fellowship and a Sloan Fellowship, and he is
a Fellow of the Econometric Society and of the American
Academy of Arts and Sciences. Dr. Bernanke served as the
Director of the Monetary Economics Program of the
National Bureau of Economic Research (NBER) and as a
member of the NBER's Business Cycle Dating Committee. In
July 2001, he was appointed Editor of the American
Economic Review. Dr. Bernanke's work with civic and
professional groups includes having served two terms as a
member of the Montgomery Township (N.J.) Board of
Education.
Bernanke was born in December 1953 in
Augusta, Georgia, and grew up in Dillon, South Carolina.
His was one of the few Jewish families in the areas where
he grew up. He received a B.A. in economics in 1975 from
Harvard University and a Ph.D. in economics in 1979 from
the Massachusetts Institute of Technology.
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Family
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Anna
Friedmann
--Wife
(wed on May 29, 1978)
Joel
A.
Bernanke
--Son (b. December 5,
1982)
Allyssa
Gale
Bernanke
--Daughter (b. June 21,
1986)
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Religion:
Jewish
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Education:
1975:
B.A. Economics, Harvard
University
1979: Ph.D.
Economics, Massachusets Institute of
Technology (MIT)
Career/Occupation:
Professor,
Economist
1979-1985:
Professor, Stanford Graduate School
of Business
1989-1990:
Visiting Professor of Economics,
Massachusets Institute of Technology
(MIT)
1993: Visiting
Professor of Economics, New York
University
1994-1996:
Class of 1926 Professor of
Economics and Public Affairs,
Princeton University
1996-2002:
Howard Harrison and Gabrielle Snyder
Beck Professor of Economics and
Public Affairs and Chair of the
Economics Department, Princeton
University
Political/Government
Career:
Party
Affiliation:
Republican
1987-1989:
Visiting scholar, Federal Reserve
Banks of Philadelphia
1989-1990:
Visiting scholar, Federal Reserve
Banks of Boston
1990-1991:
Visiting scholar, Federal Reserve
Banks of New York
1990-2002:
Academic Advisory Panel at the
Federal Reserve Bank of New
York
2002-2005:
Board of Governors of the Federal
Reserve System (appointed by
Pres. George W. Bush)
2005-2006:
Chair of the Council of Economic
Advisors (appointed by Pres.
George W. Bush)
2006-2014:
Chairman of the Federal Reserve
(appointed by Pres. George W.
Bush, re-nominated by President
Obama in 2009)
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Links
and Resources on Ben Bernanke
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