Fed Chair in 2010:Ben S. Bernanke (served 2006–2014).
This corrects the common mix‑up with Jerome Powell (Chair from 2018–present).
Recent Chairs (quick list)
Alan Greenspan — 1987–2006
Ben Bernanke — 2006–2014
Janet Yellen — 2014–2018
Jerome Powell — 2018–present
6) JU Visit (2010)
Local connection: In 2010, representatives from the Federal Reserve visited our FIN310 class at Jacksonville University to talk about careers, monetary policy, and the brand‑new era of balance‑sheet policy that began during the Great Recession.
What is QE (as of Nov 2010)?
Definition: Quantitative easing (QE) = the Fed buys longer‑term U.S. Treasuries (and earlier, MBS) to lower long‑term interest rates when the policy rate is near zero.
QE2 announcement: In November 2010, the Fed announced about $600 billion in Treasury purchases through mid‑2011.
Goal: Ease financial conditions, support hiring, and lift inflation back toward ~2% after the 2008–09 crisis.
How it works (plain English)
Fed buys bonds → bond prices rise → yields fall (lower long‑term rates).
Lower long‑term rates → cheaper mortgages & business loans → more spending and jobs.
Also signals a commitment to easy policy even when the fed funds rate is near zero.
Debates: risk of future inflation, asset bubbles, distribution effects.
How to track: FOMC statements, NY Fed balance‑sheet releases, FRED charts.
Local coverage (Nov 9, 2010)
"Ben Bernanke: 'We succeeded in avoiding the financial meltdown'" — Q&A with students at JU/UNF/Rollins; topics included commodity prices, inflation outlook, AIG, and Dodd‑Frank/FSOC.