Ben Bernanke

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Ben Bernanke
Ben Bernanke 2013.jpg
Former Chairman of the Board of Governors of the Federal Reserve System
In office
February 1, 2006-January 31, 2014
PartyRepublican
Elections and appointments
NominatedOctober 24, 2005
ConfirmedJanuary 31, 2006
AppointedFebruary 1, 2006
Appointed byGeorge W. Bush (2006), Barack Obama(2010)
Prior offices
Chairman of the Council of Economic Advisors
2005-2006
Member of the Board of Governors of the Federal Reserve System
2002-2005
Education
High schoolDillon High School
Bachelor'sHarvard University
Ph.D.Massachusetts Institute of Technology
Personal
BirthdayDecember 13, 1953
Place of birthAugusta, Georgia
ProfessionProfessor of Economics
ReligionJudaism
Websites
Office website
Benjamin Shalom Bernanke (b. December 13, 1953, in Augusta, Georgia) previously served as Chairman of the Board of Governors of the Federal Reserve System. Bernanke was nominated to his first term by President George W. Bush in 2005 and confirmed by a Senate voice vote on January 31, 2006.[1] He was then nominated for a second consecutive term by President Barack Obama in 2009 and was confirmed by a Senate vote of 70-30 on January 28, 2010.[2] It was the weakest confirmation vote in the position's history.[3]

Bernanke previously served on the Board of Governors of the Federal Reserve System before being appointed Chairman of the Council of Economic Advisors by President Bush.[4]

Bernanke did not seek nomination for a new term in 2014.[5]

Biography

Born in Augusta, Georgia, Bernanke grew up in Dillon, South Carolina.[4] He graduated summa cum laude with a degree in economics from Harvard University in 1975 before earning his Ph.D. from the Massachusetts Institute of Technology in 1979.[6] Bernanke published many books and scholarly articles on various economic issues during his time as a professor at Princeton University, Stanford University, New York University and the Massachusetts Institute of Technology.[6]

Career

Below is an abbreviated outline of Bernanke's academic, professional and political career:[4]

  • 1975: Graduated from Harvard University
  • 1979: Earned Ph.D. from Massachusetts Institute of Technology
  • 1979-1985: Associate professor at Stanford University
  • 1985-1996: Professor of Economics and Public Affairs at Princeton
  • 1996-2002: Chairman of the Princeton University Economics Department
  • 2002-2005: Member of the Board of Governors of the Federal Reserve System
  • 2005-2006: Chairman of the Council of Economic Advisors under the Bush administration
  • 2006-2014: Chairman of the Board of Governors of the Federal Reserve System

Confirmation vote

Bernanke was confirmed for a second consecutive term on January 28, 2010, but the vote was the weakest showing of support in the history of the position with a vote of 70-30. The economic downturn in 2008 brought full attention to the Federal Reserve, leading to the votes against his confirmation to a second term. Many in favor of his confirmation suggested the downturn could have been worse if Bernanke had not been the chairman.[3]

Ben Bernanke Confirmation vote, January 28, 2010
Party Votes for Approveda Votes against Defeatedd Total votes
Democratic Party Democrats 47 11 58
Republican Party Republicans 22 18 40
Independent Independents 1 1 2
Total Votes 70 30 100
[2]


Bernanke was confirmed by voice vote on January 31, 2006, by members of the United States Senate for his first term as Chairman of the Federal Reserve.[1]

Personal

Bernanke is married with two children.[6]

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External links

References

Political offices
Preceded by
Alan Greenspan
Chairman of the Board of Governors of the Federal Reserve
2006-Present
Succeeded by
-
Preceded by
Harvey Rosen
Chairman of the Council of Economic Advisors
2005-2006
Succeeded by
Edward Lazear