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• Ben Bernanke is the chairman of the Federal Reserve. Bernanke succeeded Alan Greenspan in February 2006.

  On May 5, 2009, Bernanke spoke before Congress stating that he feels the economy will begin to grow again before the end of 2009. He did however say that the growth could be slow and that the unemployment rate may remain high despite the growth.SFGate: Bernanke: Economy Should Grow Again Later in 2009

• Fast Facts

  1. Name: Ben Shalom Bernanke
  2. Born: December 13, 1953
  3. Birthplace: Augusta, Georgia
  4. 14th Chairman of the Board of Governors of the Federal Reserve
  5. Assumed office on February 1, 2006
  6. Bernanke's term as Fed chairman four years and expires in January 2010Federal Reserve Board: Ben S. Bernanke
  7. His term on the Federal Reserve Board of Governors is 14 years; expires in January 2020Federal Reserve Board: Ben S. Bernanke
  8. Alma mater: Harvard University
  9. Spouse: Anna Friedmann
  10. Predecessor: Alan Greenspan
  11. Spoke at ICBA National Conference and Techworld on March 20, 2009

• Mysterious Money

  On March 3, 2009, Bernanke sat before the Senate Budget Committee and was asked if he could disclose who he lent $2.2 trillion tax payer dollars to. Bernanke would not disclose the banks who received this money explaining that doing so would discourage banks from borrowing again. Reuters: Senator wants Fed to name loan recipients (March 3, 2009)

• Early Life

  Ben Bernanke was born in Augusta, Georgia, and raised in Dillon, South Carolina. He attended Harvard University and graduated with an A.B. in economics. He then went on to earn his PhD from the Massachusetts Institute of Technology.

• The Recession

  On February 24, 2009, during his twice-yearly report to the Senate Banking Committee, Bernanke said he believed it was possible for the recession to end in 2009. He cautioned that this could only happen if actions taken by the government, including Congress and the Federal Reserve, serve to stabilize the ailing banking industry. Bernanke also warned that the economy was in a "severe" contraction and would likely continue that way for the first six months of 2009.Bloomberg.com: Bernanke Sees 2010 Recovery 'Only If' Banks Stabilize (February 24, 2009) FOX News: Bernanke: Recession Will End This Year (February 24, 2009)

• Career

  Bernanke began his career as professor at Stanford University and then moved to teach at Princeton University. In 2002, he began his service on the Board of Governors of the Federal Reserve System and was appointed as chair of the Federal Reserve on February 1, 2006.

• Related Pages on Mahalo

  Federal Reserve | Unemployment | Interest Rates | Paul Volcker | Recession | Dan Tarullo | Alan Greenspan | Timothy Geithner

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