Ben Bernanke's first exposure to monetary policy was reading the works of Milton Friedman, the Nobel laureate. That was 30 years ago, when Bernanke was a graduate student at MIT, and he has been studying central banking ever since. By the time President George W. Bush nominated him to run the Federal Reserve, at the end of , Bernanke knew more about central banking than any economist alive. On virtually every topic of significance — how to prevent deflationary panics, for instance, or to gauge the effect of Fed moves on stock-market prices — Bernanke wrote one of the seminal papers. He championed ideas for improving communications between the Fed — whose previous chairman, Alan Greenspan, spoke in riddles — and the public, believing that clearer guidance about the Fed's aims would help the economy run more smoothly.
Ben Bernanke Will Work With Citadel, a Hedge Fund, as an Adviser
Ben Bernanke - Infogalactic: the planetary knowledge core
Ben Bernanke was the chair of the board of governors of the U. Federal Reserve from to Bernanke took over the helm from Alan Greenspan on February 1, , ending Greenspan's year leadership at the Fed. A former Fed governor, Bernanke was chair of the U.
Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis. What a remarkable lack of gratitude investors are displaying, given that the Fed has been instrumental in reviving the stock market from its March low! Following are three graphs that illustrate Bernanke's tenure at the Fed, which began on Feb. Call it extremely poor timing: Bernanke took office as Fed chairman almost at almost the very top of the U.
It's a great read on the history of central banks, including how they responded to the financial crisis and the challenges they face in the future. In this video segment, Neil reveals his thoughts on who could step into Ben Bernanke's shoes -- assuming he doesn't stay on for a third term -- including two strong possibilities and an intriguing long shot. A full transcript follows the video. Morgan Housel: Bernanke's term is up in January -- January What are the odds that he's going to stick around, and, if not him, who's going to replace him?