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Ben Bernanke named Time Magazine's 2009 "Person of the Year"

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Time Magazine names Federal Reserve Board Chairman Ben Bernanke its 2009 "Person of the Year."

excerpt....

Bernanke is the 56-year-old chairman of the Federal Reserve, the central bank of the U.S., the most important and least understood force shaping the American -- and global -- economy. Those green bills featuring dead Presidents are labeled federal reserve note for a reason: the Fed controls the money supply. It is an independent government agency that conducts monetary policy, which means it sets short-term interest rates -- which means it has immense influence over inflation, unemployment, the strength of the dollar and the strength of your wallet. And ever since global credit markets began imploding, its mild-mannered chairman has dramatically expanded those powers and reinvented the Fed.

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on December 16, 2009 7:40 AM.

President Obama official schedule and guidance, Dec. 16, 2009. Peace Corps, NASA, Hanukkah party. Bring on the latkes was the previous entry in this blog.

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