iOS app Android app More

Ben Bernanke: 'I Am Very Proud Of My Nerd-Dom'

The Huffington Post  |  By Posted: 03/28/2012 11:27 am Updated: 03/28/2012 11:27 am

Ben Bernanke Nerddom
Ben Bernanke speaking with ABC News' Diane Sawyer. He said on Monday, "I am very proud of my nerd-dom."

One of the nation's most powerful officials is providing America's nerds with their ultimate revenge.

"I am very proud of my nerd-dom," Federal Reserve Chairman Ben Bernanke told ABC News on Monday. "In fact, the world needs more nerds. Nerds, you know, create more jobs and advance science and I hope make good economic policy, but that remains to be seen." (h/t Morning Money)

Bernanke's not alone in considering himself a nerd. Indeed, when Time Magazine named Bernanke the Person of the Year in 2009, they argued Bernanke was "the most powerful nerd on the planet."

Bernanke presided over the Federal Reserve during one of the most tumultuous times for the nation's economy in history -- the 2008 financial crisis, the Great Recession and its recovery. Under his leadership, the Fed has kept interest rates near zero in order to encourage lending and economic growth. Some say that the banks are addicted to the Fed's nearly free money while they hesitate to lend it to consumers and businesses.

The Federal Reserve's most strident critics have grown louder in turn, warning of the dangers of hyperinflation. But inflation actually has been lower on Bernanke's clock than under any other Federal Reserve chairman for the past 40 years, according to an analysis by The New York Times.

But being in charge of the nation's monetary policy may not be the nerdiest episode of Bernanke's lifetime. The Fed chairman has been a nerd all his life, according to Time. He won the South Carolina state spelling bee at age 11 and vacillated about his major at Harvard until finally deciding upon economics.

FOLLOW BUSINESS