It’s the latest private venture for Bernanke, who since his departure from the nation’s central bank last year has been on the speaking circuit and was recently hired by a major hedge fund as an adviser as well.
Bernanke will provide economic advice to
It is routine for former Fed officials to take their economic skills — and Rolodex of contacts — to
Bernanke served two terms as chairman of the Federal Reserve, from 2006 through 2014, spending most of his term dealing with the 2008 financial crisis and the economic aftermath left in its wake.
Under his term, the Fed cut interest rates to zero to help bring the U.S. economy out of recession. When zero interest rates were not enough to spur economic growth, the Fed went into uncharted territory for the U.S. economy by implementing several massive bond-buying programs to push interest rates down even further.
Eight years after the financial crisis, the U.S. economy has nearly recovered. The vast majority of economists credit Bernanke’s Fed with being largely responsible for that recovery. Unemployment has fallen from a recession high of 10 percent in 2009 to 5.5 percent. The stock market recovered all of the losses from 2007 and 2008 and is setting new record highs.
But Bernanke’s actions were not without controversy.
In 2008, the Fed effectively nationalized
Bernanke has been especially prolific in his post-Fed career. He has given dozens of paid speeches, even with his speaking fee reportedly as high as