Profile of Ben Bernanke
From one classroom to the next, he taught economics at
Hi, I’m Ana for About.com and today we’re profiling Federal Reserve Chairman Ben Bernanke.Born into a middle-class family, his father was a pharmacist and his mother a schoolteacher. A genius from the get-go, he taught himself calculus in high school and later scored a near-perfect 15-90 out of 1600 on his SAT.Bernanke graduated summa cum laude with a Bachelor of Arts in Economics from Harvard in 1975. He later achieved a PhD. in economics from the Massachusetts Institute of Technology. From one classroom to the next, he taught economics at Stanford and Princeton while publishing articles on a wide range of economic issues including monetary policy, business cycles and the Great Depression.In the early 2000’s, Bernanke moved from a life of academia to one in Washington when he became a governor of the Federal Reserve in 2002.By 2005, he was serving as chairman of the President’s Council of Economic Advisers during President George W. Bush’s second term in office.Shortly thereafter, President Bush nominated Bernanke to succeed Alan Greenspan as chairman of the Fed, beginning his first term on February 1, 2006.As Chairman, he is responsible for guiding monetary policy for the U.S. economy. Additionally, he works directly with the treasury as needed.During the credit crisis of 2008, he worked to stabilize banks, bailing out Bear Stearns and insurance giant AIG. A year later, he was named Time Magazine’s “Person of the Year” in 2009.President Obama nominated Bernanke for a second term in 2009 and the Senate voted Bernanke back for a second term as Fed Chairman in 2010.His term as Chairman ends in 2014 and his term on Fed’s Board of Governors ends in 2020.That’s a look at FED Chairman Ben Bernanke. Thanks for watching.