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Since its establishment, the Federal Reserve has taken on two important missions: to maintain macroeconomic stability and financial stability. The institution was born out of historic financial crises. For more than 100 years, the Fed has used various policy tools to perform its duties while taking advantage of its unique position to fight the financial crisis and help the United States revive its economy. This book reviews and analyzes the Fed's response to the 2008 financial crisis from the unique perspective of the former Fed Chairman, who also talked about his thoughts and reflections after the crisis.
Ben Bernanke was born in U.S. City of Augusta, Georgia, in 1953. He received his bachelor's degree from Harvard University in 1975 and his PHD from Massachusetts Institute of Technology in 1979. After graduation, he taught at Princeton University for 17 years and became the Federal Reserve Chairman in 2006. During Bernanke’s eight-year tenure at the Fed, he led the United States through the worst financial crisis since the Great Depression. He was honored as the "Man of the Year" by the Time magazine in 2009 and was among the top ten on the Forbes World's Most Powerful People List for three consecutive years.
