Ben Bernanke
Ben Bernanke
Ben Shalom Bernankeis an American economist at the Brookings Institution who served two terms as chairman of the Federal Reserve, the central bank of the United States, from 2006 to 2014. During his tenure as chairman, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis. Before becoming Federal Reserve chairman, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave...
NationalityAmerican
ProfessionPolitician
Date of Birth13 December 1953
CityAugusta, GA
CountryUnited States of America
Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what,' but it certainly is not the 'why.'
Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable.
History proves... that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.
Evolutionary psychologists suggest that humans experienced evolutionary benefits from brain developments that included aversion to loss and risk and from instincts for cooperation that helped strengthen communities.
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
To be sure, faster growth in nominal labor compensation does not necessarily portend higher inflation.
The children of the unemployed achieve less in school and appear to have reduced long-term earnings prospects.
In the past, Federal Reserve chairmen have not generally gone directly to the public.
In a slow-growing world that is short on aggregate demand, Germany's trade surplus is a problem.
If you're in a car crash, you're mostly involved in trying to not go off the bridge, and later on you say, 'Oh my God!'
If you take a candy bar in the short run, it gives you a burst of energy, but after a while, it just makes you fat.
I would argue that no financial instrument counted as regulatory capital should be allowed to receive any protection from losses.
I was a professor at Princeton University. And, in that capacity, I studied for many years the role of financial crisis in the economy.
I don't think there are any students who should not be exposed to a basic financial literacy course.