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Blog Post 1 - Intro to Alias

Ben Bernanke studied economics at Harvard University and got a Ph.D. from MIT after that. He was a professor at Stanford and at Princeton until he became the Chairman of the Board of Governors of the Federal Reserve System. This position was given to him based on his experience and his extensive knowledge on monetary policy and I did not know about this economist prior to this class. During the earlier stages of the banking crisis, Bernanke helped a lot by creating innovative tools to expand open market operations and prevent global depression. Bernanke's work teaches a lot about the developments in monetary policy and as the Chairman, will teach us a lot about the Federal Open Market Committee. This makes it very relevant in the sense that each organization's members bring different skill sets and have different roles in a group that allow it to function seamlessly. In this situation Ben Bernanke had a leadership role that meant that he had to think way ahead into the future of policy and had to make very high-pressure decisions in order for the economy to grow.


Comments

  1. Professor ArvanSeptember 6, 2019 at 10:35 AM

    You need to change the default font size for your blog. As compared with the date, which is reasonably sized, the body of text seems microscopic. In your Blogger Dashboard go to Theme, Customize, Advanced, then under Page Text make the point size bigger.

    Bernanke institute a policy of "quantitative easing" early on during the Great Recession. This followed the recommendation of Milton Friedman on how monetary policy should have been conducted during the Great Depression. Compared to Europe, the U.S. recovered more quickly and this monetary policy is a big reason why.

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