Difference between revisions of "Ben Bernanke"
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==Background== | ==Background== | ||
| − | Dr. Bernanke was born in [[Augusta, Georgia]]. He has a BA in economics from [[Harvard]] (1975) and a PhD in economics from [[MIT]] (1979). He has taught at [[Stanford]], New York University (NYU), and [[Princeton]]. Dr. Bernanke joined the Federal Reserve Board of Governors in 2002. Dr. Bernanke and his wife, Anna, have two children. | + | Dr. Bernanke was born in [[Augusta, Georgia]]. He has a BA in economics from [[Harvard]] (1975) and a PhD in economics from [[MIT]] (1979). He has taught at [[Stanford]], New York University (NYU), and [[Princeton University|Princeton]]. Dr. Bernanke joined the Federal Reserve Board of Governors in 2002. Dr. Bernanke and his wife, Anna, have two children. |
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==Political Orientation== | ==Political Orientation== | ||
Revision as of 13:36, December 14, 2008
Ben Bernanke (bur-NANG'-kee) (b. 1953) is an American economist who is the current Chairman of the Federal Reserve, nominated by President George W. Bush to succeed Alan Greenspan. He took control in Feb. 2006. At first, Bernanke was widely perceived as having less power over Wall Street than Greenspan even after Greenspan's retirement, but Bernanke is starting to come into his own and to have more influence. [1]
Background
Dr. Bernanke was born in Augusta, Georgia. He has a BA in economics from Harvard (1975) and a PhD in economics from MIT (1979). He has taught at Stanford, New York University (NYU), and Princeton. Dr. Bernanke joined the Federal Reserve Board of Governors in 2002. Dr. Bernanke and his wife, Anna, have two children.
Political Orientation
Bernanke is a Republican and was appointed to the Federal Reserve Board, and elevated to Chairman, by Republican President, George W. Bush; he was confirmed by the Senate . Bernanke played a major role, along with Treasury Secretary Henry Paulson in forging a vast, extremely expensive response to the Financial Crisis of 2008. The Fed and Treasury commitments exceeded $1 trillion in direct aid and over $6 trillion in loan guarantees as the economy spiraled downward. Bernanke, an expert on the Great Depression of 1929, was intervening aggressively to prevent a repeat of that disaster, but as of December 2008 the economy continued to fall rapidly. He refused to allow Fed funds to be used to rescue the automobile industry.
In October Bernanke endorsed an eventual stimulus program that gave support to the the proposed spending plans of Barack Obama.[2] Bernanke's term extends to early 2010.