Who is Ben Bernanke?

File Under: TDI In-Depth

President Bush has named Ben Bernanke to succeed Alan Greenspan as Chairman of the Federal Reserve. But who is he? TDI now takes a look at his biography, his life, to bring you a look at the person, not the policies.

– Bernanke is currently chairman of President Bush’s Council of Economic Advisors.
– Taught Economics at Princeton University for 17 years.
– Is a “macroeconomist” with an interest in monetary policy and macroeconomic history.
– Director of the Monetary Economics Program of the National Bureau of Economic Research
– Editor of the American Economic Review.
– Was born on December 13, 1954, in Augusta, Georgia. Has a wife, Anna, and two children.
– Has a B.A. in economics, 1975, from Harvard University. Also has a Ph.D in economics, 1979, from the Massachusetts Institute of Technology (MIT).
– Was a member from 2002 to 2005 of the Board of Governors of the Federal Reserve System.
– Told US News and World Report that he missed alot of classes in his first fall at MIT because he was obsessed with the Boston-Cincinnati World Series. The Red Sox lost, and has brought him sorrow ever since.
– Also described in that article as a “meditative man”, and a libertarian republican.
– Won the state spelling bee in the sixth grade. He lost the national championship by adding one too many “i”s to the word “edelweiss”.
– Is said to talk simply and plainly, and not “in tongues”, as Greenspan is often criticized for doing.
– On wearing suits: “My proposal that Fed governors should signal their commitment to public service by wearing Hawaiian shirts and Bermuda shorts have so far gone unheeded.”
– Has been predicted to suceed Greenspan for many years by economic publications. Upon news of Bernanke being named for the post, the stock market’s rallied and went up.

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2 Responses to “Who is Ben Bernanke?”

  1. Erika Says:

    I thought edelweiss was a SONG…and isn’t that like, GERMAN?? and also..what on EARTH is macroeconomics??

  2. eChuckler Says:

    Sorry, it’s “word”, not “world”. Typo fixed.

    Here’s the Wikipedia definition of macroeconomics:

    Macroeconomics is the economics sub-field of study that considers aggregate behavior, i.e. the study of the sum of individual economic decisions. This is in contrast to microeconomics which is the study of the economic behaviour of individual consumers, firms, and industries.

    Macroeconomics can be used to analyze how best to influence government policy goals such as economic growth, price stability, full employment and the attainment of a sustainable balance of payments.

    So basically, it’s more about how individual economic actions affect the market.

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