Bernanke Returns to Academic Roots to Defend Fed’s Existence

By Rich Miller and Joshua Zumbrun – Federal Reserve Chairman Ben S. Bernanke returned to his roots as a university professor today, seeking to explain and justify the existence of the central bank ahead of the 100th anniversary of its founding next year.

In anticipation of the centennial next year of the 1913 legislation founding the central bank, the Fed has set up an advisory council to discuss ways to mark the occasion with “public education and outreach,” said Lisa Oliva, vice president of corporate communications at the Federal Reserve Bank of Richmond. The panel is headed by former Fed chairmen Paul Volcker and Alan Greenspan and includes representatives of academia, business, labor and the public. more>


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