Being Ben Bernanke

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Binyamin Appelbaum profiles the most powerful man in the world, economically speaking, in the New York Times:

SHORTLY before Ben S. Bernanke was nominated as chairman of the Federal Reserve in 2005, he paid a return visit to Stanford, where he started his academic career in 1979. In a speech, he recalled that he and his wife, Anna, had rented a house with friends because he was certain that local real estate prices would fall. Instead, prices in the Bay Area doubled, then doubled again.

“Since then,” Mr. Bernanke told his audience, “I’ve developed a view that central bankers should not try to determine fundamental values of assets.”

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The Audacious Pragmatist (New York Times)

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