This was my favorite part of the 60 Minutes interview of Federal Reserve Chairman, Ben Bernanke. When I travel across the country, I find that many folks assume that policymakers who work in DC don’t understand what life is like for Main Street, America. But Bernanke understands. I know that when I worked for the House Budget Committee, one of our members mistakenly accused Bernanke of having been a former Wall Street CEO. He laughed that the only previous time he had been head (”CEO”) of anything was when he was Chairman of the Economics Department at Princeton U. (Here’s a Wall Street Journal blog post on it, including the video clip.)
And here’s a photo that was taken of the two “Chairmen from South Carolina” before one of those House Budget Committee hearings. That’s House Budget Committee Chairman John Spratt (D-SC), my former boss, with Chairman Bernanke (who grew up in Dillon, SC, which is in Chairman Spratt’s district).