Former Federal Reserve Chairs on Responding to Our Nation’s Economic Crisis

On Friday, July 17, 2020, at 12:30 p.m. ET, the Select Subcommittee on the Coronavirus Crisis, chaired by Rep. James E. Clyburn, will hold a remote hearing with former Federal Reserve Chairs Ben Bernanke and Janet Yellen.

The hearing will examine the federal government’s economic recovery efforts in response to the coronavirus crisis, how the crisis has exacerbated inequality, and the need for further congressional action.  Chairs Bernanke and Yellen steered the Fed through the 2008 financial crisis and its aftermath and will use that unique historical perspective to make recommendations for action.

Dr. Bernanke was appointed by President George W. Bush in 2006, and during his tenure as Chair oversaw the Federal Reserve’s response to the global financial crisis.  Dr. Yellen served as Vice Chair of the Federal Reserve from 2010 to 2014 before being appointed by President Barack Obama in 2014 to serve as Chair.

This is the first time that either Dr. Bernanke or Dr. Yellen will testify before Congress since stepping down from the Federal Reserve.