(1953-12-13) December 13, 1953 (age 70) Augusta, Georgia, U.S.
Political party
Independent (2015 or earlier–present)
Other political affiliations
Republican (before 2015 or earlier)
Spouse
Anna Friedmann
Children
2
Education
Harvard University (BA, MA) Massachusetts Institute of Technology (PhD)
Awards
Nobel Memorial Prize in Economic Sciences (2022)
Signature
Academic background
Thesis
Long Term Commitments, Dynamic Optimization, and the Business Cycle (1979)
Doctoral advisor
Stanley Fischer[1]
Academic work
Discipline
Macroeconomics
Ben Shalom Bernanke[2] (/bərˈnæŋki/bər-NANG-kee; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Federal Reserve, he was appointed a distinguished fellow at the Brookings Institution.[3][4] During his tenure as chairman, 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 chairman, 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] Bernanke was awarded the 2022 Nobel Memorial Prize in Economic Sciences, jointly with Douglas Diamond and Philip H. Dybvig, "for research on banks and financial crises",[5][6] more specifically for his analysis of the Great Depression.
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.[7] His first term began on February 1, 2006.[8] 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."[9] His second term ended on January 31, 2014, when he was succeeded by Janet Yellen on February 3, 2014.[10]
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 US agencies and agencies of other governments) that prevented an economic catastrophe greater than the Great Depression.[11]
^Bernanke, Ben Shalom (1979). Long-term commitments, dynamic optimization, and the business cycle(PDF) (Ph.D.). MIT. Retrieved October 23, 2016.
^Bernanke's first name is Ben, not Benjamin, and "Ben Shalom" is not abbreviated. (See: "Big Ben", Slate, October 24, 2005; see also "Presidential Nomination: Ben Shalom Bernanke", George W. Bush White House, January 2009)
^"Federal Reserve Chairman Ben Bernanke to Join Economic Studies at Brookings". Brookings. February 3, 2014. Retrieved February 3, 2014.
^ abcAmadeo, Kimberly. "The Great Depression Expert Who Prevented the Second Great Depression". The Balance. Retrieved July 29, 2020.
^Cite error: The named reference nobelprize.org was invoked but never defined (see the help page).
^"Former Fed Chair Bernanke shares Nobel for research on banks". AP NEWS. October 10, 2022. Retrieved October 10, 2022.
^Andrews, Edmund L. (October 24, 2005). "Bush Nominates Bernanke to Succeed Greenspan as Fed Chief". The New York Times. ISSN 0362-4331. Retrieved July 29, 2020.
^"Ben S. Bernanke formally sworn in to second term as chairman of the Board of Governors of the Federal Reserve System". Board of Governors of the Federal Reserve System. Retrieved July 29, 2020.
^"Obama nominates Janet Yellen to succeed Bernanke at Federal Reserve". Mort Zuckerman. Associated Press. October 9, 2013.
^"Yellen sworn in as Fed chair in brief ceremony". The Associated Press. February 3, 2014. Retrieved July 29, 2020.
^Kinsley, Michael (October 8, 2013). "Ben Bernanke's 'The Courage to Act'". The New York Times.
Ben Shalom Bernanke (/bərˈnæŋki/ bər-NANG-kee; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve...
the Federal Reserve from 2010 to 2014 before nominating her to succeed BenBernanke as chair of the Federal Reserve three years later. She was succeeded...
German actor BenBernanke (born 1953), American chair of the Federal Reserve Bank Ben Bishop (born 1986), American ice hockey player Ben Bradlee (1921–2014)...
Economic Sciences was divided equally between the American economists Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig "for research on banks and...
economists as Hyman Minsky and by the neo-classical mainstream economist BenBernanke. In Fisher's formulation of debt deflation, when the debt bubble bursts...
series Billions (2016–2023), and earned Emmy nominations for his roles as BenBernanke in the HBO film Too Big to Fail (2011), and Harold Levinson in the ITV...
behind only William McChesney Martin. President George W. Bush appointed BenBernanke as his successor. Greenspan came to the Federal Reserve Board from a...
Lemon Demon is a musical project and band created by American comedian and musician Neil Cicierega in 2003 in Boston, Massachusetts. Lemon Demon's studio...
2015, PIMCO announced the hire of former Federal Reserve Chairman Dr. BenBernanke as a senior advisor, following in the footsteps of predecessor Federal...
financial crisis of 2007–2008 required Fed chair BenBernanke to use direct quantitative easing (the Bernanke put). The term Yellen put was used to refer to...
good idea" and that if he had a voice in the Senate, he would vote no. BenBernanke wrote "His youth generated some criticism, including from former Board...
Museum of Women Lectures by BenBernanke to an economics class at George Washington University March 2012 "Chairman BenBernanke Lecture Series Part 1" Recorded...
capital flows: a search theoretic approach", under the supervision of BenBernanke, Kenneth Rogoff and Pierre-Olivier Gourinchas. She was awarded the Princeton's...
also mentored and helped advise the Ph.D. theses authored by economists BenBernanke, Mario Draghi, and Greg Mankiw. In 2012, Fischer served as Humanitas...
in the early 2000s following Japan's Lost Decade. In November 2002, BenBernanke, then Federal Reserve Board governor, and later chairman suggested that...
The Bernanke doctrine refers to measures, identified by BenBernanke while Chairman of the Board of Governors of the United States Federal Reserve, that...
Oxford University Press. ISBN 0-19-506431-3. Bernanke, Ben (2 March 2004). "Remarks by Governor Ben S. Bernanke: Money, Gold and the Great Depression". At...
situation in which desired saving exceeds desired investment. By 2005 BenBernanke, chairman of the Federal Reserve, the central bank of the United States...
system shuts down. According to former U.S. Federal Reserve chairman BenBernanke, the Great Depression was caused by the failure of the Federal Reserve...
annual Institutional Investor Hedge Fund Report Card. In April 2015, Ben S. Bernanke, who was the United States Federal Reserve chairman for eight years...
purchases from $40 billion to $85 billion per month. On 19 June 2013, BenBernanke announced a "tapering" of some of the Fed's QE policies contingent upon...
has been proposed as an alternative. Former US Federal Reserve Chair BenBernanke provided the following definition in November 2013: "Shadow banking,...
appendix a speech honoring Friedman in which Federal Reserve Governor BenBernanke made this statement: Let me end my talk by abusing slightly my status...
sworn in as a governor of the Federal Reserve Board by Fed Chairman BenBernanke. President Joe Biden nominated her for chair of the Federal Reserve Board...
caused President George W. Bush and the Chairman of the Federal Reserve BenBernanke to announce a limited bailout of the U.S. housing market for homeowners...
her social media feed was "still a bit more risqué than that of, say, BenBernanke." She has used her social media presence to support professional sports...
original on 2016-02-22. Retrieved 2015-12-23. Bernanke, Ben S. (8 Nov 2002). "Remarks by Governor Ben S. Bernanke". Federal Reserve. Archived from the original...
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