The Federal Reserve of the United States
Daniel Duranceau
Econ 1
Wegman
29 September 2012
The Federal Reserve System of the United States There are seven members of the Board of Governors of the Federal Reserve. Dr. Ben S. Bernanke (chairman) was born in December 1953 (age 59) in Augusta, Georgia, and grew up in Dillon, South Carolina. He received a B.A. in economics in 1975 from Harvard University (summa cum laude) and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. Ben S. Bernanke began a second term as Chairman of the Board of Governors of the Federal Reserve System on February 1, 2010. Dr. Bernanke also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. He originally took office as Chairman on February 1, 2006, when he also began a 14-year term as a member of the Board. His second term as Chairman ends January 31, 2014, and his term as a Board member ends January 31, 2020. Former President Bush appointed him on February 1, 2006, to be chairman of the United States Federal Reserve Bernanke was confirmed for a second term as chairman on January 28, 2010, after being re-nominated by President Barak Obama. Dr. Janet L. Yellen graduated summa cum laude from Brown University with a degree in economics in 1967, and received her Ph.D. in Economics from Yale University in 1971. She received the Wilbur Cross Medal from Yale in 1997, an honorary doctor of laws degree from Brown in 1998, and an honorary doctor of humane letters from Bard College in 2000. Dr. Yellen took office as Vice Chair of the Board of Governors of the Federal Reserve System on October 4, 2010, for a four-year term ending October 4, 2014. Dr. Yellen simultaneously began a 14-year term as a member of the Board that will expire January 31, 2024. Janet was appointed by former President Bill Clinton in 1994. She was Re- appointed on October 4, 2010. Elizabeth A. Duke, age 60 (July 23,1952), received her bachelor’s degree from the University of North
Econ 1
Wegman
29 September 2012
The Federal Reserve System of the United States There are seven members of the Board of Governors of the Federal Reserve. Dr. Ben S. Bernanke (chairman) was born in December 1953 (age 59) in Augusta, Georgia, and grew up in Dillon, South Carolina. He received a B.A. in economics in 1975 from Harvard University (summa cum laude) and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. Ben S. Bernanke began a second term as Chairman of the Board of Governors of the Federal Reserve System on February 1, 2010. Dr. Bernanke also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. He originally took office as Chairman on February 1, 2006, when he also began a 14-year term as a member of the Board. His second term as Chairman ends January 31, 2014, and his term as a Board member ends January 31, 2020. Former President Bush appointed him on February 1, 2006, to be chairman of the United States Federal Reserve Bernanke was confirmed for a second term as chairman on January 28, 2010, after being re-nominated by President Barak Obama. Dr. Janet L. Yellen graduated summa cum laude from Brown University with a degree in economics in 1967, and received her Ph.D. in Economics from Yale University in 1971. She received the Wilbur Cross Medal from Yale in 1997, an honorary doctor of laws degree from Brown in 1998, and an honorary doctor of humane letters from Bard College in 2000. Dr. Yellen took office as Vice Chair of the Board of Governors of the Federal Reserve System on October 4, 2010, for a four-year term ending October 4, 2014. Dr. Yellen simultaneously began a 14-year term as a member of the Board that will expire January 31, 2024. Janet was appointed by former President Bill Clinton in 1994. She was Re- appointed on October 4, 2010. Elizabeth A. Duke, age 60 (July 23,1952), received her bachelor’s degree from the University of North