WASHINGTON — Ben Bernanke, who stepped down last week after eight momentous years as chairman of the Federal Reserve, is joining the Brookings Institution, a Washington think tank.
Bernanke will be a distinguished fellow in residence affiliated with Brookings’ Hutchins Center on Fiscal and Monetary Policy, according to Brookings President Strobe Talbot.
Bernanke had not previously disclosed his plans but had said he intended to stay in Washington and looked forward to writing and giving speeches on economic policy. Before coming to Washington, he had taught at Princeton University.
Meanwhile, Janet Yellen was sworn in this morning to succeed Bernanke, becoming the first woman to lead the Federal Reserve in its 100-year history.
Yellen, who was confirmed by the Senate last month, was sworn in by Fed Governor Daniel Tarullo, the senior member of the Fed’s seven-member board.
She took the oath in a brief ceremony in the Fed’s massive board room. Her husband, Nobel-winning economist George Akerloff, was present as were other Fed board members and Fed staff.
The 67-year-old Yellen made no remarks at her swearing in.