Ben S. Bernanke's rise to chair of the Fed, the massive financial crisis, and the Fed's bold and effective response.
In 2006, Ben S. Bernanke was appointed chair of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington's halls of power. There would be no time to celebrate, however " the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown.
In The Courage to Act, Ben Bernanke pulls back the curtain on the tireless and ultimately successful efforts to prevent a mass economic failure. Working with two U.S. presidents and two Treasury secretaries, Dr. Bernanke and his colleagues used every Fed capability, no matter how arcane, to keep the U.S. economy afloat. From his arrival in Washington in 2002 and his experiences before the crisis, to the intense days and weeks of the crisis itself, and through the Great Recession that followed, Dr. Bernanke gives readers an unequaled perspective on the American economy. This narrative will reveal for the first time how the creativity and decisiveness of a few key leaders prevented an economic collapse of unimaginable scale.16 pages of photographs
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Ben S. Bernanke served as chairman of the Federal Reserve from 2006 to 2014. He was named Time Magazine’s Person of the Year in 2009. Prior to his career in public service, he was a professor of economics at Princeton University prior to his career in public service.