Introduction
Ben Bernanke is an economist who was born in 13, December 1953 in America. He was born In Georgia and was raised in South Carolina. He is an economist. Ben Bernanke went to J.V Martin Junior High School. He also joined Dillon High School, at this place, he played saxophone and he became a class valedictorian. He also attended Harvard University; he graduated with an undergraduate degree in Economics in 1975.He later received a PHD from Massachusetts Institute of Technology in 1979.He got married to Anna, a schoolteacher. Currently, he is the chairperson to the Federal Reserve, Central Bank of United States of America. He was a professor at Princeton University. He once served as the one of the council of Economic Advisers.
Ben Bernanke became a lecturer at Stanford Graduate School of Business between 1979 to 1985.He was also a lecturer at New York University. He later became a professor in Princeton University in the Department of Economics. He was also one of the members of the Board of Governor in the Federal Reserve System between 2002and 2005.He was named the chairperson to the Council of Economic Advisers by President George.W. Bush, where he served until early 2006.
He lectured in the London School of Economics on the theory and policy of money. He wrote several books on both microeconomics and macroeconomics. He also became an editor of American Economic Review. He also became a director to the Program of Monetary Economics. He wrote several academic journals and articles during the Great Depression on both political and economic causes.
In 2002, Bernanke argued that the ability to control money implies that the country can also avoid or prevent deflation; this is done through supply of money into circulation in the economy. In 2005, he brought forward the saving glut that takes no preference of time .At one time he declined the urge to further increase interest rates claiming that it weakens the economy.
In conclusion, Bernanke have greatly contributed to the economics world especially in relation to monetary theories and policies.
Cited Work
Bernanke, Ben, and Julio Rotemberg. Nber Macroeconomics Annual 1999. Cambridge, Mass: MIT, 2000.
Bernanke, Ben. Inflation Targeting: Lessons from the International Experience. Princeton, N.J: Princeton University Press, 1999
