Bernanke’s series of lectures to university students, now available as a book, acts as a primer on the Federal Reserve and 2008 financial crisis.
The audit campaign is also somewhat ironic considering Bernanke has made boosting the Fed’s transparency and communication a hallmark of his tenure.
He is the first Fed chairman to hold news conferences with reporters and under his leadership, the Fed has more frequently released the economic projections that underpin its policy choices and provided more details on its decision-making process.
And of course he’s the first Fed chairman to give a series of lectures to college students that can then be watched around the world.
Toward the end of his final lecture, a student says Bernanke has demystified the Fed for him, but that many others are likely to remain skeptical.
Bernanke agrees, noting that the tension surrounding central banks is part of a long American tradition and is not likely to disappear. After all, the patron saint of the “End the Fed” movement is really Andrew Jackson, not Ron Paul.
But that doesn’t mean Bernanke, always the professor, won’t try his best to educate people. This book is a good step.