Ben Bernanke’s decision to join a hedge fund will cost him something, too

April 16, 2015 3:02 PM

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First things first: Ben Bernanke’s decision to join giant hedge fund Citadel in no way tarnishes his historic and heroic stint of public service at the helm of the US Federal Reserve. A monetary economist with a particular passion for the Great Depression, Bernanke was the perfect person to lead the US central bank through the worst financial crisis since the 1930s.

His guidance was all the more crucial given the US political climate. Thanks to rabid partisanship, the government proper (as opposed to the Fed, which is an independent arm of the federal government) wasn’t able to boost spending enough to stimulate the economy. That left the Fed as the sole active...

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