Extra Credit (Spring 2006)

Ben Bernanke’s two predecessors

New Federal Reserve Chairman Ben Bernanke follows in the footsteps of two well-respected chairmen, Alan Greenspan and Paul Volcker.

During his 18 years as chairman of the Fed, Greenspan had many notable accomplishments, including presiding over the longest economic expansion in the nation’s history and presiding over the Fed as the nation’s financial system recovered from the 1987 stock market crash. Volcker, who served as Fed chairman for eight years, played a key role in helping to lower double-digit inflation rates in the early 1980s and ushering in an era of financial deregulation and innovation.


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