Bernanke Takes Post at Brookings Institution
Source: New York Times
WASHINGTON Ben S. Bernanke, who stepped down Friday as chairman of the Federal Reserve, has moved across town to the Brookings Institution, a research institute that is strengthening its focus on monetary policy.
Mr. Bernanke, 60, has joined the economic studies program at Brookings as a distinguished fellow in residence, the institute said Monday.
Brookings scholars have a well-established reputation for contributing innovative ideas and trenchant analysis to economic and other public policy debates, Mr. Bernanke said in a statement released by Brookings. I welcome the opportunity to engage in that vibrant community through research and writing.
Mr. Bernankes successor at the Fed, Janet L. Yellen, was sworn in Monday morning by Daniel Tarullo, the longest-serving member of the board of governors.
Read more: http://www.nytimes.com/2014/02/04/business/bernanke-takes-post-at-brookings-institution.html
DeSwiss
(27,137 posts)merrily
(45,251 posts)DeSwiss
(27,137 posts)greiner3
(5,214 posts)However, there is NO call to say the Brookings Institute is anyone's ideal of a 'Corporate Sponsor'.
I think you need to reread the info on the BI.
And as it stands, I think it's YOU who needs to reread the info. Or, not. Your choice -- I could not care less. I wouldn't have reconsidered you proposal anyway as I've always keep my own mind and never do what others tell me to do. It's one of my defining qualities.
At the end of 2004 the Brookings Institution had assets of $258 million and spent $39.7 million, while its budget has grown to more than $80 million in 2009.[64] Its largest contributors include the Ford Foundation, the Gates Foundation, Sen. Dianne Feinstein and her husband Richard C. Blum, Bank of America, ExxonMobil, Pew Charitable Trusts, the MacArthur Foundation, the Carnegie Corporation, and the governments of the United States, the United Kingdom, Japan, Qatar, the Republic of China and the District of Columbia.
Demeter
(85,373 posts)so we would have been spared any more of Uncle Ben's converted rice?
valerief
(53,235 posts)Ben is such a humanitarian, after all.
bucolic_frolic
(43,205 posts)I think he will be among the most studied Fed Chiefs ever
Greenspan's reputation has imploded
But Bernanke, early on dubbed Helicopter Ben, lives to fight another day
because he knew, but didn't or wouldn't articulate, that all the QE's he
implemented were qualitatively different than the 1970s printing which
led to inflation.
His legacy will be that he taught the Fed that when bank reserves are in
meltdown, you can print, do QE if you will, to prevent the debt implosion
and monetary collapse.
If it's just a cyclical recession, a la 1973-74, or a foreign price shock like
the OPEC oil embargo, printing leads to inflation.
Bernanke knew. But his legacy and reputation to history will depend on how
well the QE's are unwound. If it leads to inflation, he's cooked. If it still leads
to debt implosion, bank failures, deep recession, he merely prevented the day
of reckoning.
The jury is out for a good 25 years or more.