Sometimes it is difficult to see the impact one person can have on the economic outlook of the modern world. But what if you look at an economist, they are the ones that look at the way the world is running and how it can have an effect on the lives of many, because of the influences on the world.
Ben Bernanke spent two terms as chairperson of the Federal Reserve, this is an important job because it can have wide spread effect on the world that we live in. Their comments and actions, whether timed correctly or missed judged, can have an effect on the situation and the length of time that a problem lasts.
It is uncommon for a person to be voted in as chairperson for two terms, yet this is part of the history created by Ben Bernanke. The first term, George W. Bush who was the president in office at that time voted him in and the second term was by Barak Obama. Before embarking on a career as the chairperson of the Federal Reserve, Ben served as chairperson of George W. Bush’s council of economic advisors.
The time before the Federal Reserve
This part of Ben’s life was spent working as a tenured professor at the Princeton University, where he has penned articles and books on the subject of economics. This is a fascinating subject and one that many people find difficult to grasp the full meaning, but this isn’t the case with Ben Bernanke; he is believed to be one of the top economists in the world.
How does an economist help
An economist is there to help predict how things are going to look in the future; they are the forward thinkers of the world. They look at what has happened in the past and take that towards the future. They are the ones that can see if a trend is happening and if an intervention in the financial institutes is needed. It is with forward thinking economists that help shape the world we now live in. This is true with Ben Bernanke; he will have had an impact on the current situation that is happening due to his time serving as chairperson of the Federal Reserve for two terms.
He joined that job just as one financial crisis started to roll out and he has had influence on how the situation was handled, and how it has affected the situation now. Many have criticised areas which they believe have been mismanaged, but unless you are in the position, it is very difficult to question the judgements of others performances.
Ben Bernanke has held office twice as the chairperson of the Federal Reserve, the second time he only just managed to get the job, but he continued with his work and helped to stabilise the American country when it was hit with the financial crisis. Many that question his judgment but he is a published economics professor who knows what he is talking about and has proved his worth, with time served.