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Video: Bill O’Reilly asks TIME editor Richard Stengel why Ben Bernake is “Person of the Year”
Posted December 17th, 2009 under Headlines, Video Tags: ben bernake, bill oreilly, o'reilly factor, time magazine
O’Reilly Factor December 16.
Time: Ben Bernake – Time Person of the Year 2009
Bernanke is the 56-year-old chairman of the Federal Reserve, the central bank of the U.S., the most important and least understood force shaping the American — and global — economy. Those green bills featuring dead Presidents are labeled “Federal Reserve Note” for a reason: the Fed controls the money supply. It is an independent government agency that conducts monetary policy, which means it sets short-term interest rates — which means it has immense influence over inflation, unemployment, the strength of the dollar and the strength of your wallet. And ever since global credit markets began imploding, its mild-mannered chairman has dramatically expanded those powers and reinvented the Fed.
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