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June 24, 2017

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Yellen, at NYU, hails Bernanke's courage in crisis

NEW YORK--Federal Reserve Chair Janet Yellen paid tribute Wednesday to the man she succeeded three months ago, saying Ben Bernanke demonstrated the grit that was needed to stabilize the financial system and restore economic growth.

Yellen told graduates at New York University's commencement that Bernanke's response to the 2008 financial crisis and the Great Recession showed the courage it takes to stand up for principles.

Bernanke faced "relentless criticism, personal threats and the certainty that history would judge him harshly if he was wrong," Yellen said at the ceremony at Yankee Stadium.

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