Ben Bernanke Federal Reserve
Wednesday, July 9th, 2008Ben Bernanke was sworn in as the chairman of the Federal Reserve on February 1, 2006. But what does that role entail, exactly?
In short the chairman is in charge of the central banking system of the United States. It’s his job to lead the Reserve in making decisions on interest rates and control the rate at which currency is both destroyed and created on a daily basis.
The interest rates are of key importance to American investors. The slightest rise or dip can send shock waves through the economic community for years to come. And whenever Bernanke makes an announcement of coming changes he profoundly affects movement on the stock market.
Besides that, Bernanke is responsible for meeting with Congress twice a year to discuss financial changes, and he must meet with the Secretary of the Treasury periodically to discuss the flow of American economics.