“The actions taken by central banks and other authorities to stabilize a panic in the short run can work against stability in the long run if investors and firms infer from those actions that they will never bear the full consequences of excessive risk-taking.”

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.