Boring Bald Guy Gets Alot of Interest!Ben Bernanke is the chairman of the Board of Governors of the United States Federal Reserve. Previously, he served as chairman of the President's Council of Economic Advisors, and was a professor of economics at Princeton University and other schools.
After Bernanke earned his Ph.D from Massachusetts Institute of Technology in 1979, he began teaching at Stanford University; he also taught as a visiting professor at New York University. He was a tenured professor and chairman of the Department of Economics at Princeton University until he resigned his position in 2005. He has written three textbooks on macroeconomics. Bernanke was the director of the Monetary Economics Program of the National Bureau of Economic Research and the editor of the American Economic Review.
In 2002, Bernanke gave a speech about "deflation," as the term was being used in the business news. He pointed out that the government owns the physical means of creating money and has control of the means of production. He made reference to a statement made by Milton Friedman about using a "helicopter drop," which would put money into the economy to fight deflation. Since, Bernanke has been referred to as "Helicopter Ben." He noted that "people know that inflation erodes the real value of the government's debt and, therefore, that it is in the interest of the government to create some inflation."
He is an advocate for transparent Fed policy, and backed away from stating clearer inflation goals as statements to affect the stock market. He has received much criticism for his public statements about the Fed policy direction.
On October 24, 2005, Bernanke was nominated by President George W. Bush to succeed Alan Greenspan as chairman of the Federal Reserve. He was sworn in on February 1, 2006.
Bernanke is married to Anna Bernanke; the couple has two children. | |
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