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10 Surprising Facts About Ben Bernanke

By    |   Friday, 10 July 2015 04:22 PM

Ben S. Bernanke became chairman of the Federal Reserve in 2006, replacing Alan Greenspan. Two years later, he faced the worst financial crisis the nation had experienced since the Great Depression. He served as chairman until January 2014.

Here are 10 facts about the former Fed chairman that might surprise you, according to Biography, the Federal Reserve website and About.com.

1. Bernanke, who grew up in Dillon, South Carolina, showed his talents at age 11 when he won a state spelling bee.

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2. The future Fed chairman had the highest SAT scores in South Carolina and attended Harvard University, earning a bachelor’s degree in economics in 1975. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1979.

3. Bernanke was an economics professor at Stanford University and Princeton University. He was also a visiting professor at New York University and MIT.

4. He used his financial expertise as a member of the Montgomery Township Board of Education in New Jersey.

5. During his teaching career, Bernanke began his association with the Federal Reserve as an adviser, also serving as a visiting scholar with the Federal Reserve banks in Philadelphia, Boston and New York through the 1980s and 1990s.

6. Before his rise in the Fed, Bernanke wrote numerous articles, books and textbooks dealing with economics.

7. Along with Guggenheim and Sloan fellowships, Bernanke was a fellow of the American Academy of Arts and Sciences. He was also appointed editor of the American Economic Review in 2001.

8. Bernanke joined the Fed in 2002 as a member of its Board of Governors.

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9. In 2005, he was appointed as chairman of the Council of Economic Advisers under President George W. Bush. He was nominated to replace Greenspan later that year before starting the first of his two terms as Fed chairman the following January.

10. During the housing and banking crisis that set off the “Great Recession” in 2008, Bernanke implemented the purchase of billions of dollars in mortgage-backed securities and long-term Treasury bonds with the aim of stimulating the economy. His efforts led to Time Magazine naming him “Person of the Year” in 2009.

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Ben S. Bernanke became chairman of the Federal Reserve in 2006, replacing Alan Greenspan. Two years later, he faced the worst financial crisis the nation had experienced since the Great Depression. He served as chairman until January 2014.
Federal Reserve, Bernanke, facts
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2015-22-10
Friday, 10 July 2015 04:22 PM
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