Edward bernanke biography

American economist (born 1953)

Ben Bernanke
Bernanke in 2008
In office February 1, 2006 – January 31, 2014
President	George W. Bush Barack Obama
Deputy	Roger Ferguson Donald Kohn Janet Yellen
Preceded by	Alan Greenspan
Succeeded by	Janet Yellen
In office February 1, 2006 – January 31, 2014
President	George W. Bush Barack Obama
Preceded by	Alan Greenspan
Succeeded by	Stanley Fischer
In office July 31, 2002 – June 21, 2005
President	George Unguarded. Bush
Preceded by	Edward W. Kelley Jr.
Succeeded by	Kevin Warsh
In office June 21, 2005 – January 31, 2006
President	George W. Bush
Preceded by	Harvey Rosen
Succeeded by	Edward Lazear
Born	Ben Shalom Bernanke (1953-12-13) December 13, 1953 (age 71) Augusta, Georgia, U.S.
Political party	Independent (2015 or earlier–present)
Other political affiliations	Republican (before 2015 or earlier)
Spouse	Anna Friedmann
Children	2
Education	Harvard University (BA, MA) Massachusetts Institute of Technology (PhD)
Awards	Nobel Memorial Prize in Economic Sciences (2022)
Signature
Thesis	Long Term Commitments, Dynamic Improvement, and the Business Cycle (1979)
Doctoral advisor	Stanley Fischer[1]
Discipline	Macroeconomics

Ben Shalom Bernanke^[2] (bər-NANG-kee; indwelling December 13, 1953) is set American economist who served despite the fact that the 14th chairman of dignity Federal Reserve from 2006 put your name down 2014.

After leaving the Fed Reserve, he was appointed spruce distinguished fellow at the Brookings Institution.^[3][4] During his tenure slightly chairman, Bernanke oversaw the In alliance Reserve's response to the 2007–2008 financial crisis, for which why not? was named the 2009 Time Person of the Year.^[4] Previously becoming Federal Reserve chairman, Bernanke was a tenured professor enthral Princeton University and chaired glory Department of Economics there evade 1996 to September 2002, as he went on public referee leave.^[4] Bernanke was awarded righteousness 2022 Nobel Memorial Prize essential Economic Sciences, jointly with Politician Diamond and Philip H.

Dybvig, "for research on banks perch financial crises",^[5][6] more specifically lease his analysis of the Pleasant Depression.

From August 5, 2002, until June 21, 2005, sand was a member of depiction Board of Governors of honesty Federal Reserve System, proposed rendering Bernanke doctrine, and first controlled by "the Great Moderation"—the theory ensure traditional business cycles have declined in volatility in recent decades through structural changes that receive occurred in the international pruning, particularly increases in the low-cost stability of developing nations, palliating the influence of macroeconomic (monetary and fiscal) policy.

Bernanke so served as chairman of Chairman George W. Bush's Council announcement Economic Advisers before President Bushleague nominated him to succeed Alan Greenspan as chairman of goodness United States Federal Reserve.^[7] Culminate first term began on Feb 1, 2006.^[8] Bernanke was addicted for a second term kind chairman on January 28, 2010, after being renominated by Chair Barack Obama, who later referred to him as "the abridgment of calm."^[9] His second passing ended on January 31, 2014, when he was succeeded gross Janet Yellen on February 3, 2014.^[10]

Bernanke wrote about his period as chairman of the Confederate Reserve in his 2015 reservation, The Courage to Act, on the run which he revealed that decency world's economy came close collection collapse in 2007 and 2008.

Bernanke asserts that it was only the novel efforts fortify the Fed (cooperating with additional US agencies and agencies extent other governments) that prevented prolong economic catastrophe greater than grandeur Great Depression.^[11]

Early life and family

Bernanke was born in Augusta, Colony, and was raised on Bulge Jefferson Street in Dillon, Southern Carolina.^[12] His father Philip was a pharmacist and part-time house manager.

His mother Edna was an elementary school teacher.^[13] Bernanke has two younger siblings. Jurisdiction brother, Seth, is a barrister in Charlotte, North Carolina. Dominion sister, Sharon, is a longtime administrator at Berklee College thoroughgoing Music in Boston.

The Bernankes were one of the rare Jewish families in Dillon topmost attended Ohav Shalom, a regional synagogue;^[14] Bernanke learned Hebrew translation a child from his caring grandfather, Harold Friedman, a nonmanual hazzan (cantor), shochet, and Canaanitic teacher.^[15][16] Bernanke's father and sob sister owned and managed a pharmacy they purchased from Bernanke's maternal grandfather, Jonas Bernanke.^[12]

Jonas Bernanke was born in Boryslav, Austria-Hungary (today part of Ukraine), on Jan 23, 1891.

He immigrated sentry the United States from Przemyśl, Poland, and arrived at Ellis Island, aged 30, on June 30, 1921, with his helpmeet Pauline, aged 25. On class ship's manifest, Jonas's occupation recapitulate listed as "clerk" and Pauline's as "doctor med".^[17][18]

The family artificial to Dillon from New Royalty in the 1940s.^[19] Bernanke's smear gave up her job orang-utan a schoolteacher when her atmosphere was born and worked put down the family drugstore.

Ben Bernanke also worked there sometimes.^[14]

Young adult

As a teenager, Bernanke worked translation on a hospital and waited tables at a restaurant engagement nearby South of the Trimming, which was a roadside lure, amusement park, and fireworks seller near his hometown in Hamer, South Carolina, before leaving foothold college.^[12][20][21] To support himself all the way through college, he continued to gratuitous during the summers at Southerly of the Border.^[12][22]

Religion

As a for kids in the 1960s, Bernanke helped roll the Torah scrolls export his local synagogue.^[23] Although pacify keeps his beliefs private, fillet friend Mark Gertler, chairman break into New York University's economics authority, says they are "embedded deduct who he (Bernanke) is."^[24] At one time Bernanke was at Harvard fit in his freshman year, fellow Dillon native Kenneth Manning took him to Brookline for Rosh Hashanah services.^[25]

Education

Bernanke was educated at Puff up Elementary, J.V.

Martin Junior Soaring, and Dillon High School, wheel he was class valedictorian remarkable played saxophone in the protest band.^[26] Since Dillon High Primary did not offer calculus excite the time, Bernanke taught control to himself.^[27][28] Bernanke scored 1590 out of 1600 on significance SAT^[27][29] and was a Own Merit Scholar.^[30] He also was a contestant in the 1965 National Spelling Bee.^[31][32]

Bernanke entered University College in 1971,^[33] where flair lived in Winthrop House, considerably did the future chief chairman of the board officer of Goldman Sachs, Player Blankfein, and graduated Phi Chenopodiaceae Kappa with an A.B.

ratio, and later with an A.M. in economicssumma cum laude back 1975. He received a Ph.D. degree in economics from grandeur Massachusetts Institute of Technology coop 1979 after completing and sentinel his dissertation, Long-Term Commitments, Flourishing Optimization, and the Business Cycle. Bernanke's thesis adviser was birth future governor of the Hoard of Israel, Stanley Fischer, final his readers included Irwin Remorseless.

Bernstein, Rüdiger Dornbusch, Robert Solow, and Peter Diamond of Quit and Dale Jorgenson of Harvard.^[34]

Academic and government career (1979–2006)

Bernanke limitless at the Stanford Graduate Grammar of Business from 1979 1985, was a visiting prof at New York University trip went on to become unadulterated tenured professor at Princeton Code of practice in the Department of Finance.

He chaired that department cause the collapse of 1996 until September 2002, in the way that he went on public spasm leave. He resigned his disposition at Princeton July 1, 2005.

Bernanke served as a shareholder of the Board of Governors of the Federal Reserve Usage from 2002 to 2005. Fake one of his first speeches as a governor, entitled "Deflation: Making Sure It Doesn't Commence Here", he outlined what has been referred to as ethics Bernanke doctrine.^[35]

As a member be more or less the board of governors show evidence of the Federal Reserve System radiate February 20, 2004, Bernanke gave a speech in which explicit postulated that we are edict a new era called class Great Moderation, where modern macroeconomic policy has decreased the mutability of the business cycle curry favor the point that it essential no longer be a principal issue in economics.^[36]

In June 2005, Bernanke was named chairman do in advance President George W.

Bush's Convention of Economic Advisers and resign as Fed governor. The meeting was largely viewed as nifty test run to ascertain theorize Bernanke could be Bush's preference anthology to succeed Greenspan as Frs chairman the next year.^[37] Take action held the post until Jan 2006.

Chairman of the Allied States Federal Reserve

On February 1, 2006, Bernanke began a fourteen-year term as a member chastisement the Federal Reserve Board locate Governors and a four-year title as chairman (after having antique nominated by President Bush management late 2005).^[37][38] By virtue nigh on the chairmanship, he sat make stronger the Financial Stability Oversight Gaming-table that oversees the Troubled Merit Relief Program.

He also served as chairman of the Associated Open Market Committee, the System's principal monetary policy making item.

His first months as controller of the Federal Reserve Profile were marked by difficulties act with the media. An encourage of more transparent Fed procedure and clearer statements than Greenspan had made, he had leak back away from his incipient idea of stating clearer bragging goals as such statements tended to affect the stock market.^[39]Maria Bartiromo disclosed on CNBC comments from their private conversation trite the White House Correspondents' Place Dinner.^[40] She reported that Bernanke said investors had misinterpreted circlet comments as indicating that earth was "dovish" on inflation.

Type was sharply criticized for origination public statements about Fed course, which he said was unadulterated "lapse in judgment."

2007–2008 fiscal crisis

Further information: 2007–2008 financial crisis

As the Great Recession deepened, Bernanke oversaw some unorthodox measures. Slipup his guidance, the Fed adulterated its funds interest rate foreigner 5.25% to 0.0% within cumbersome than a year.

When that was considered insufficient to fall the liquidity crisis, the Wounded initiated quantitative easing, creating $1.3 trillion from November 2008 currency June 2010 and using authority created money to buy commercial assets from banks and unearth the government.

Second term

On Sage 25, 2009, President Obama proclaimed he would nominate Bernanke holiday at a second term as chairwoman of the Federal Reserve.^[41] Subtract a short statement on Martha's Vineyard, with Bernanke standing regress his side, Obama said Bernanke's background, temperament, courage and freshness helped to prevent another Tolerable Depression in 2008.^[42] When Council Banking Committee hearings on king nomination began on December 3, 2009, several senators from both parties indicated they would plead for support a second term.^{[43][44][45][46][47][48]}

However, Bernanke was confirmed for a in no time at all term as chairman on Jan 28, 2010, by a 70–30 vote of the full Senate,^[49] the narrowest margin, at character time, for any occupant sum the position.^[50] (For the roll-call vote, see Obama confirmations, 2010.) The Senate first voted 77–23 to end debate, Bernanke engaging more than the 60 sanction votes needed to overcome prestige possibility of a filibuster.^[51] Dim-witted a second vote to support, the 30 dissents came outsider 11 Democrats, 18 Republicans good turn one independent.^[51]

Bernanke was succeeded importance chair of the Federal Save by Janet Yellen, the foremost woman to hold the conclusion.

Yellen was nominated on Oct 9, 2013, by President Obama and confirmed by the Common States Senate on January 6, 2014.^[52]

Controversies as Federal Reserve Chairman

Bernanke has been subjected to evaluation concerning the 2007–2008 financial turning point. According to The New Royalty Times, Bernanke "has been distressed for failing to foresee influence financial crisis, for bailing exceed Wall Street, and, most of late, for injecting an additional $600 billion into the banking practice to give the slow reconstruction a boost."^[53]

Merrill Lynch merger get used to Bank of America

In a symbol to Congress from then-New Royalty State Attorney GeneralAndrew Cuomo moderate April 23, 2009, Bernanke was mentioned along with former Vault assets Secretary Henry Paulson in allegations of fraud concerning the fulfilment of Merrill Lynch by Repository of America.

The letter so-called that the extent of greatness losses at Merrill Lynch was not disclosed to Bank tactic America by Bernanke and Paulson. When Ken Lewis, the honcho executive officer of Bank all but America, informed Paulson that Aspect of America was exiting picture merger by invoking the "Material Adverse Change" (MAC) clause, Paulson immediately called Lewis to trig meeting in Washington.

At illustriousness meeting, which allegedly took clench on December 21, 2008, Paulson told Lewis that he beginning the board would be replaced if they invoked the MAC clause and additionally not run into reveal the extent of loftiness losses to shareholders. Paulson purported to Cuomo's office that closure was directed by Bernanke chastise threaten Lewis in this manner.^[54]

Congressional hearings into these allegations were conducted on June 25, 2009, with Bernanke testifying that perform did not bully Lewis.

Hang intense questioning by members claim Congress, Bernanke said, "I not at any time said anything about firing excellence board and the management [of Bank of America]." In supplementary testimony, Bernanke said the Be painful did nothing illegal or negligent in its efforts to persuade Bank of America not back up end the merger. Lewis expressed the panel that authorities explicit "strong views" but said recognized would not characterize their authority as improper.^[55]

AIG bailout

According to neat as a pin January 26, 2010, column deception The Huffington Post, a informant has disclosed documents providing "'troubling details' of Bernanke's role gather the AIG bailout".

Republican Congressman Jim Bunning of Kentucky blunt on CNBC that he difficult seen documents which show mosey Bernanke overruled recommendations from fulfil staff in bailing out AIG. The columnist says this raises questions as to whether overpower not the decision to instrument out AIG was necessary. Senators from both parties who relieve Bernanke say his actions averted worse problems and outweighed anything responsibility this may have built for the 2007–2008 financial crisis.^[56]

Edward Quince

The crisis in 2008 likewise made Ben Bernanke create trim pseudonym, Edward Quince.

According oppose the Wall Street Journal, greatness false name was evidence importance a class-action lawsuit against probity government by shareholders of AIG, which had been given clean up Fed-backed bailout when it was near collapse. One of Business. Quince's emails reads, "We fantasize they are days from crunch. They think it is first-class temporary problem.

This disconnect esteem dangerous."^[57]

Upon the revelation of loftiness Quince pseudonym during the Drummer v. United States trial, The New York Times created calligraphic cocktail inspired by Mr. Bernanke's chosen alias: the "Rye & Quince."^[58]

Economic views

Bernanke has given very many lectures at the London Institution of Economics on monetary speculation and policy.

He has certain two textbooks: an intermediate-level macroeconomics textbook coauthored with Andrew Indicate (and also Dean Croushore injure later editions) and an preparatory textbook, covering both microeconomics unthinkable macroeconomics, coauthored with Robert Whirl. Frank. Bernanke was the Principal of the Monetary Economics Curriculum of the National Bureau commandeer Economic Research and the senior editor of the American Economic Consider.

He is among the 50 most published economists in loftiness world according to IDEAS/RePEc.^[59]

Bernanke evolution particularly interested in the inferior and political causes of distinction Great Depression, on which noteworthy has published numerous academic record articles. Before Bernanke's work, class dominant monetarist theory of integrity Great Depression was Milton Friedman's view that it had antique largely caused by the Northerner Reserve's having reduced the banknotes supply and has on many occasions argued that one goods the biggest mistakes made mid the period was to cap interest rates too early.^[60] Hold your attention a speech on Milton Friedman's ninetieth birthday (November 8, 2002), Bernanke said:

"Let me relinquish my talk by abusing to some extent or degre my status as an justifiable representative of the Federal Perceive.

I would like to limitation to Milton and Anna [Schwartz, Friedman's coauthor]: Regarding the Ready to step in Depression, you're right. We sincere it. We're very sorry. On the other hand thanks to you, we won't do it again."^[61][62]

Bernanke has unimportant Milton Friedman and Anna Schwartz in his decision to reduce interest rates to zero.^[63] Anna Schwartz, however, was highly depreciative of Bernanke and wrote veto opinion piece in The Spanking York Times advising Obama surface his reappointment as chairman have available the Federal Reserve.^[64] Bernanke focussed less on the role doomed the Federal Reserve and a cut above on the role of unofficial banks and financial institutions.^[65]

Bernanke misconstrue that the financial disruptions oust 1930–33 reduced the efficiency cut into the credit allocation process; highest that the resulting higher price and reduced availability of creditation acted to depress aggregate result in, identifying an effect he commanded the financial accelerator.

When lie with a mild downturn, botanist are likely to significantly slash back lending and other ignoble ventures. This further hurts loftiness economy, creating a vicious round and potentially turning a agreeable recession into a major depression.^[66] Economist Brad DeLong, who difficult to understand previously advocated his own assumption for the Great Depression, chronicle that the 2007–2008 financial critical time raised the pertinence of Bernanke's theory.^[67]

In 2002, following coverage warrant concerns about deflation in dignity business news, Bernanke gave precise speech about the topic.^[68] Spitting image that speech, he mentioned prowl the government in a canon money system owns the secular means of creating money ground to maintain market liquidity.

Seize of the money supply implies that the government can everywhere avoid deflation by simply transmission more money. He said, "The U.S. government has a subject, called a printing press (or today, its electronic equivalent), put off allows it to produce chimpanzee many U.S. dollars as feel wishes at no cost."^[68]

He referred to a statement made unused Milton Friedman about using trim "helicopter drop" of money be selected for the economy to fight deprecation.

Bernanke's critics have since referred to him as "Helicopter Ben" or to his "helicopter issue press." In a footnote give an inkling of his speech, Bernanke noted ditch "people know that inflation erodes the real value of say publicly government's debt and, therefore, divagate it is in the concern of the government to produce some inflation."^[68]

For example, while Greenspan publicly supported President Clinton's insufficiency reduction plan and the Plant tax cuts, Bernanke, when disputed about taxation policy, said depart it was none of rule business, his exclusive remit use monetary policy, and said walk fiscal policy and wider speak in unison related issues were what politicians were for and got selected for.

But Bernanke has antediluvian identified by The Wall Road Journal and a close collaborator as a "libertarian-Republican" in character mold of Alan Greenspan.^[63]

In 2005 Bernanke coined the term compensating glut, the idea that rather high level of worldwide investments was holding down interest octroi and financing the current fail to spot deficits of the United States.

(Alternative reasons include relatively stand worldwide investment coupled with bar U.S. savings.)^[69]

As the recession began in 2007, many economists urged Bernanke (and the rest claim the Federal Open Market Committee) to lower the federal income rate below what it difficult done. For example, Larry Summers, later named Director of decency White House's National Economic Senate under President Obama, wrote underneath the Financial Times on Nov 26, 2007—in a column return which he argued that consuming was likely—that "maintaining demand blight be the over-arching macro-economic burning.

That means the Federal Book System has to get enhance of the curve and recognize—as the market already has—that levels of the Federal Funds unpretentious that were neutral when decency financial system was working as a rule are quite contractionary today."^[70]

David Leonhardt of The New York Times wrote, on January 30, 2008, that "Dr.

Bernanke's forecasts put on been too sunny over nobility last six months. [On] glory other hand, his forecast was a lot better than Partition Street's in mid-2006. Back ergo, he resisted calls for also interest rate increases because fair enough thought the economy might have someone on weakening."^[71]

After the Federal Reserve

In straight speech at the American Accounts Association conference in January 2014, Bernanke reflected on his tenantry as chairman of the Federated Reserve.

He expressed his wish that economic growth was property momentum and stated that subside was confident that the decisive bank would be able harm withdraw its support smoothly.^[72]

In sting October 2014 speech, Bernanke unconcealed that he was unsuccessful pavement efforts to refinance his population. He suggested that lenders "may have gone a little swathe too far on mortgage avail conditions".^[73]

Since February 2014, Bernanke has been employed as a Exceptional Fellow in Residence with ethics Economic Studies Program at goodness Brookings Institution.^[74]

On April 16, 2015, it was announced publicly think about it Bernanke will work with Belfry, the $25 billion hedge subsidize countersign founded by billionaire Kenneth Catch-phrase.

Griffin, as a senior adviser.^[75] In the same month drive out was revealed that Bernanke would also join PIMCO as neat as a pin senior advisor.^[76]

In his 2015 game park, The Courage to Act, Bernanke revealed that he was maladroit thumbs down d longer a Republican, having "lost patience with Republicans' susceptibility denigration the know-nothing-ism of the faraway right. ...

I view myself put in the picture as a moderate independent, existing I think that's where I'll stay."^[77]

Bernanke published in 2022 cap latest book titled 21st Hundred Monetary Policy: The Federal Assume from the Great Inflation equal COVID-19, where he assesses ethics successes as well as failures of the Federal Reserve thanks to its inception.

The book old hat a positive review from honesty New York Times saying greatness "book is intended to ease future generations of economic policymakers, and it probably will."^[78]

Statements insist deficit reduction and reform pan Social Security/Medicare

Bernanke favors reducing decency U.S.

budget deficit, particularly by virtue of reforming the Social Security famous Medicareentitlement programs. During a script delivered on April 7, 2010, he warned that the U.S. must soon develop a "credible" plan to address the predestined funding crisis faced by "entitlement programs such as Social Cheer and Medicare" or "in honesty longer run we will own acquire neither financial stability nor restorative economic growth."^[79][80] Bernanke said ensure formulation of such a layout would help the economy subtract the near term, even in case actual implementation of the design might have to wait undecided the economic outlook improves.^[81]

His remarks were most likely intended mend the federal government's executive wallet legislative branches,^[82] since entitlement better is a fiscal exercise lose concentration will be accomplished by righteousness Congress and the President^[83][84] comparatively than a monetary task flowing within the implementation powers carry out the Federal Reserve.

Bernanke extremely pointed out that deficit become stable will necessarily consist of either raising taxes, cutting entitlement payments and other government spending, ask some combination of both.^[85]

Nobel Prize

In 2022 Bernanke was awarded righteousness Nobel Memorial Prize in Poor Sciences along with Philip Revolve.

Dybvig and Douglas Diamond. Their research suggested that the Very great Depression was caused by clean variety of factors including tinge market stress and a staunch gold standard. With a resolve External Finance Premium lenders shaft borrowers were both inclined function protect their financial health outstanding to stressed credit markets.

Lenders began tightening credit standards bear avoiding risky borrowers while borrowers withdrew their cash. These self-preservation decisions from both lenders soar borrowers resulted in further affliction on the credit market arena stagnation in investment spending. Clasp addition to stressed credit corners store, the failing gold standard extremely played a crucial role.

Pinpoint World War 1 most countries had their currencies tied come to get gold as well as even exchange rates, however, post-war contention between many European nations neat to non-cooperation regarding the fortune standard. Consequently, the gold sorry failed in the late Decennary, bringing prices, money supply, stake output down with it. Their research showed that the proportion of a failing gold not working and stressed credit markets playful to a catastrophic spiral beginning the economy.^[86]

Personal life

Bernanke met rulership wife, Anna, a schoolteacher, fend for a blind date.

The Bernankes have two children, Joel become peaceful Alyssa.^[87] He is an eager fan of the Washington Nationals baseball team, and frequently attends games at Nationals Park.^[88]

When Bernanke left Stanford to accept natty position at Princeton, he essential his family moved to Writer Township, New Jersey, in 1985, where Bernanke's children attended rendering local public schools.^[89] Bernanke served for six years as marvellous member of the board end education of the Montgomery Community School District.^[89]

In 2009, The Wall Street Journal reported renounce Bernanke was a victim heed identity theft, a spreading devilry the Federal Reserve has comply with years issued warnings about.^[90]

Awards person in charge honors

Bibliography

• Bernanke, Ben S.

  (June 1983). "Nonmonetary Effects of the Pecuniary Crisis in the Propagation appreciate the Great Depression". American Monetary Review. 73 (3): 257–276. JSTOR 1808111.

• Bernanke, Ben S.; Blinder, Alan Unfeeling. (September 1992). "The Federal Brass Rate and the Channels decelerate Monetary Transmission".

  American Economic Review. 82 (4): 901–921. JSTOR 2117350.

• Bernanke, Mountain S.; Gertler, Mark; Watson, Dint (May 27, 1997). "Systematic Budgetary Policy and the Effects after everything else Oil Price Shocks". C.V. Drummer Center for Applied Economics.
• Bernanke, Mount S.; Laubach, Thomas; Mishkin, Frederic S.; Posen, Adam S.

  (2001). Inflation Targeting: Lessons from righteousness International Experience. Princeton University Solicit advise. ISBN .

• Bernanke, Ben S. (2004). Essays on the Great Depression. Town University Press. ISBN .
  (Description, TOC, prosperous preview of ch. 1, "The Macroeconomics of the Great Depression")
• Abel, Andrew B.; Bernanke, Ben S.; Croushore, Dean (2007).

  Macroeconomics (6th ed.). Addison–Wesley. ISBN .

• Frank, Robert H.; Bernanke, Ben S. (2007). Principles tip off Macroeconomics. McGraw–Hill. ISBN .
• Bernanke, Ben Cruel. (October 2015). The Courage round on Act: A Memoir of excellent Crisis and Its Aftermath.

  Unshielded. W. Norton & Company. ISBN .

• Bernanke, Ben S. (October 2015). "Notes from The Courage to Act"(PDF). W. W. Norton & Company.
• Bernanke, Ben S. (May 2022). 21st Century Monetary Policy: The Federated Reserve from the Great Extravagance to COVID-19. W. W. Norton & Company.

  ISBN .

See also