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This e-single, a compilation of articles from The New York Times, chronicles the eight-year tenure of Ben S. Bernanke as Federal Reserve chairman. Mr. Bernanke, appointed by President George W. Bush and reappointed by President Obama, is primarily remembered for helping to arrest the collapse of the financial system in 2008.
A shy, methodical economist with an academic background, Mr. Bernanke had been expected to serve as the keeper of Alan Greenspan’s flame, preserving the Fed’s hard-won success in moderating inflation. Instead, he emerged under pressure as perhaps the most innovative and daring leader in the Fed’s history.
In the wake of the financial crisis, Mr. Bernanke forged a broader vision of the Fed’s responsibilities, starting experimental, incomplete campaigns to reduce unemployment and to prevent future crises.
The Bernanke Fed failed to fully achieve its goals. Yet many of the Fed’s experiments were emulated by other central banks. And Mr. Bernanke’s many admirers say it is hard to imagine that anyone else could have done more under the circumstances to restore the economy. Fortunately, they say, his lifelong study of central banking under stress meant that he not only knew the available options but also understood that those options weren’t enough. And he had the credibility necessary to persuade a hidebound institution to change quickly.
- Sales Rank: #1400719 in eBooks
- Published on: 2015-01-30
- Released on: 2015-01-30
- Format: Kindle eBook
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