Ben Shalom Bernanke (/bərˈnæŋki/ bər-NANG-kee; born December 13, 1953) is an American economist. He is a distinguished fellow at the Brookings Institution who served two terms as the 14th Chair of the Federal Reserve, from 2006 to 2014. During his tenure as chair, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis, for which he was named the 2009 *Time* Person of the Year. Before becoming Federal Reserve chair, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave.
From August 5, 2002, until June 21, 2005, he was a member of the Board of Governors of the Federal Reserve System, proposed the Bernanke doctrine, and first discussed "the Great Moderation" — the theory that traditional business cycles have declined in volatility in recent decades through structural changes that have occurred in the international economy, particularly increases in the economic stability of developing nations, diminishing the influence of macroeconomic (monetary and fiscal) policy.
During Bernanke tenure, the M1 money supply rose by 203% in what will be remembered by history as one of the greatest money heist pulled by the corrupt financial system.