Ben Bernanke served as chief of the Federal Reserve during some of the most turbulent years in recent memory.
In that position, he had to measure each word that came out of his mouth to avoid adding turmoil to global markets.
So it’s no surprise that when he left the Fed, Bernanke was ready to be less guarded. He started writing a blog, and he’s taken on everyone from Larry Summers to Elizabeth Warren and the Wall Street Journal editorial page. He even scolded Treasury Secretary Jack Lew for suggesting America should replace Alexander Hamilton from the $10 bill.
But now, we have gone through a month of extreme turmoil in the global financial markets, the most since Bernanke was Fed chief.
The Dow had a 1,000-point nosedive on August 24, its largest intraday point decline on record. Global markets have been on a crazy roller coaster ride triggered by concerns that China’s economic slowdown will drag down the rest of the world. And the Fed may raise rates next week.
And guess what Bernanke has to say about all this?
Nothing.
There’s been radio silence from Bernanke since July 17. He hasn’t blogged or tweeted. He did speak at an event in August — but not much.
Experts agree that it would be inappropriate for Bernanke to opine on the Fed’s rate hike decision. But there’s been no shortage of other things to blog about recently — China’s currency devaluation, the U.S. stock market volatility and sell off in emerging markets.
Bernanke has been traveling and on vacation, according to a spokesperson for the Brookings Institution, one of his post-Fed employers.
Bernanke “intends to start blogging again soon,” the spokesperson said, but did not specify a date.
Bernanke, who led the Fed through the financial crisis, has a book coming out in early October titled: “The Courage to Act.”