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February 3, 2006
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Friday
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Muharram 4, 1427
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Bernanke sworn in as 14th Fed chief
WASHINGTON, Feb 2: Ben Bernanke was sworn in as the 14th chairman of the Federal Reserve on Wednesday, replacing Alan Greenspan who retired after 18-1/2 years at the helm of the central bank.
Mr Bernanke took the oath of office in a private ceremony administered by Fed Vice-Chairman Roger Ferguson in the bank’s boardroom, the Fed said in a short statement. Mr Bernanke’s first public speaking appearance is Feb 15, when he testifies on the Fed’s semi-annual monetary policy report before the House Financial Services Committee. A day later he does the same with the Senate Banking Committee.
His four-year term as chairman ends on Jan 31, 2010, and his 14-year term as a member of the Fed board expires on Jan 31, 2020.—Reuters
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