Intellectually, Ben S. Bernanke was prepared to tackle the gravest economic crisis since the 1930s as chairman of the Federal Reserve. A Princeton University economics professor, he was an expert on the causes of the Great Depression. He was a practitioner as well as economic historian, serving on the Fed’s Board of Governors and as chairman of President George W. Bush’s Council of Economic Advisers. Yet in other ways, from dealings with reporters to bankers and members of Congress, there was little that could have prepared Bernanke for the challenges to come. Here are some highlights of his eight-year term, which ends tomorrow:
By now, you’re probably tired of all the back-and-forth on Reinhart and Rogoff. That would be Harvard University’s Carmen Reinhart and Kenneth Rogoff, the economists who co-authored the 2009 best-seller, “This Time Is Different: Eight Centuries of Financial Folly,” and who are now on the firing line because of minor data errors in a 2010 working paper.
The discovery of an error in an influential research paper by Harvard University economists Carmen Reinhart and Kenneth Rogoff has sparked an academic firestorm. It’s time to sort through the wreckage.
It takes eight years on average for economies to regain the level of income lost in a banking crisis, and the U.S. and Germany are alone among 12 in having already done so since the 2008 turmoil, according to Harvard University professors Carmen Reinhart and Kenneth Rogoff.