Former Federal Reserve Chairman Ben Bernanke completed his last Federal Open Market Committee Meeting Last Wednesday, but he didn’t step away from desk for long.
After serving two terms as chairman, Bernanke joined the Brookings Institution Hutchins Center on Fiscal and Monetary Policy as a Distinguished Fellow in Residence.
TheHutchins Center on Fiscal and Monetary Policy focuses on bringing research analysis to critical questions in the two vital areas of economic policy.
Brookings launched the Hutchins Center on Jan. 16, due to the generous support of Brookings Vice Chair of the Board of Trustees Glenn Hutchins, whose $10 million grant from the Hutchins Family Foundation supports the activities of the Hutchins Center.
“We are proud to welcome Chairman Bernanke into the Brookings family. His firm, steady hand at the Fed’s tiller came at a crucial time in our nation’s history, including during the worst financial and economic crisis since the Great Depression,” said Brookings President Strobe Talbott.
“We know he’ll bring insights from his tenure at the Fed to his work at Brookings, which will be particularly valuable and timely given heightened attention to monetary policy and the recent launch of the Hutchins Center,” Talbott added.
Before joining the Federal Reserve, Bernanke was a professor of economics and public affairs at Princeton since 1985, publishing many articles on a wide variety of economic issues.
Brookings has a long history with the Federal Reserve Board, including Brookings Board of Trustee members Frederic Delano and Paul Warburg, who were original members of the Federal Reserve Board of Governors in 1914.
Meanwhile, Janet Yellen officially took the oath of office as chair of the Board of Governors of the Federal Reserve System on Monday, starting her four-year term at the helm.