Release Date: February 1, 2006
For immediate release
Ben S. Bernanke on Wednesday became the fourteenth Chairman of the Board of Governors of the Federal Reserve System and the Chairman of the Federal Open Market Committee, succeeding Alan Greenspan. The oath of office was administered in the Board Room at 9:00 a.m. by Vice Chairman Roger W. Ferguson, Jr.
The Senate confirmed Dr. Bernanke as Chairman and as a member of the Board on January 31, following a hearing on November 15 by the Senate Committee on Banking, Housing and Urban Affairs. President Bush announced his intention to nominate Dr. Bernanke on October 24.
Dr. Bernanke’s four-year term as Chairman ends January 31, 2010, and his fourteen-year term as a member of the Board ends January 31, 2020.A biography of Chairman Bernanke is attached.