“Following an extended boom in housing, the demand for homes began to weaken in mid-2005. By the middle of 2006, sales of both new and existing homes had fallen about 15 percent below their peak levels. Homebuilders responded to the fall in demand by sharply curtailing construction.”

American economist and former Federal Reserve Chair (2006–2014), Bernanke’s career spans academia and central banking. His work on the Great Depression and his leadership during the 2008 financial crisis shaped modern monetary policy. He is widely recognized for his analysis of economic crises and his efforts to stabilize the U.S. economy.