Janet Yellen and the Bernanke Fed
The unelected Federal Reserve Chairman exerts exceptional influence over the U.S., in fact global, economy. As Janet Yellen prepared to take over the position, she would look back on Chairman Bernanke's tenure during the Great Recession. During that time, Bernanke was attacked by critics from both the left and the right for guiding monetary policy into dangerous territory. Their criticisms echoed arguments Bernanke himself had made with regard to past downturns in Japan and Europe. Were the critics right, or was the Bernanke Fed charting a wise middle course?
Instructors may also obtain a Teaching Note, written by this case's author, that provides suggestions for using this case effectively in the classroom.
Instructors may also obtain a Teaching Note, written by this case's author, that provides suggestions for using this case effectively in the classroom.
Keywords: monetary policy; Nominal rigidity and Aggregate Demand/Aggregate Supply; Phillips Curve; Taylor Rule; central bank independence; Central Banking; Money; Policy; Financial Crisis; Power and Influence; Banking Industry; Public Administration Industry; United States;
Citation:
Weinzierl, Matthew, and Katrina Flanagan. "Janet Yellen and the Bernanke Fed." Harvard Business School Case 714-030, November 2013. (Revised August 2015.) View Details
