"How Bernanke Could Outshine Greenspan"
by David Leonhardt

Source:  The New York Times, February 1, 2006.
http://select.nytimes.com/search/restricted/article?res=F30D1EFD345B0C728CDDAB0894DE404482

             There was a changing of the guard at the Federal Reserve in early 2006.  Ben S. Bernanke, formerly an economist from Princeton University, replaced Alan Greenspan as chair—a position that is often described as the second most powerful person in the United States.  Since economists are not quite as well-known as movie stars or even politicians, many people were wondering about the new guy on the job.  Economics journalist David Leonhardt, who was familiar with Bernanke's work and reputation, wrote this profile of the incoming chair.  In the article, Leonhardt argues that Bernanke has previously demonstrated his understanding of the social effects of free trade policies and speculates that Bernanke could use his new position to focus public attention on the need for policies to help workers who lose their jobs due to outsourcing.

• According to this article, what are some of the reasons that Greenspan's tenure as chair of the Federal Reserve were viewed as successful by many observers?
• Find out the next time that the Federal Reserve chair is supposed to testify before Congress.  See if you can catch Bernanke's statement on C-SPAN and summarize it for class.