Bernanke Given ‘C’ Grade in Global Finance Central Bank StudySimon Kennedy
Federal Reserve Chairman Ben S. Bernanke received a “C” in Global Finance magazine’s annual grading of the world’s central bankers.
Bernanke’s grade was unchanged from last year, while outgoing European Central Bank President Jean-Claude Trichet was given a “B-” after last year’s “A.” Bank of Japan Governor Masaaki Shirakawa also received a “C” while Mark Carney of Canada and the U.K.’s Mervyn King were both given a “B.”
The report card for 37 central bankers, first published in 1994, was based on their scale of success in areas such as controlling inflation, meeting economic growth goals and managing interest rates. The report was published as Bernanke, Trichet and counterparts from around the world arrive in Jackson Hole, Wyoming, for their annual monetary policy symposium at a time when the global economic outlook is deteriorating.
“During one of the toughest years on record, the world’s central bankers were tested as never before,” Global Finance publisher Joseph Giarraputo said in a statement.
Reserve Bank of Australia Governor Glenn Stevens and Bank of Israel Governor Stanley Fischer were among the six central bankers to receive the top grade from the magazine. The others were Lebanon’s Riad Salameh, Malaysia’s Zeti Akhtar Aziz, Amando Tetangco of the Philippines and Taiwan’s Fai-Nan Perng.
Argentina’s Mercedes Marco del Pont was graded lowest, with a “D.”
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