AP News, July 31st, 2007
Federal Reserve Chairman Ben Bernanke has a complex job manning the world's largest economy, but when it comes to his own finances he keeps it pretty simple.
The chairman's financial disclosure form, released Tuesday, showed that Bernake's holdings last year were in no-frills investments, including U.S. Treasury securities, mutual funds and annunities.
Bernanke, 53, took over the central bank in February 2006, succeeding longtime chairman Alan Greenspan, who also played it safe when it came to his own investments while at the Fed.
An economist who spent most of his career in academia, including teaching at Princeton, Bernanke also is receiving royalties on two textbooks he wrote. Royalty income was listed at between $50,001 and $100,000 for each textbook, the document showed.
The Fed chief's largest assets last year were two annuities _ TIAA Traditional and CREF Stock Large Cap Blend, which were each valued at between $500,001 to $1,000,000.
The disclosure form asks only for broad ranges for the values of holdings.
Bernanke listed no individual stocks or corporate bonds among his holdings. The only liability listed on the form was a 10-year student loan, taken out last year at an interest rate of 7.9 percent. Bernanke has two children _ one son and one daughter.
The disclosure form stated that Bernanke's wife, Anna, collected a salary from the National Cathedral School as well as the Cesar Chavez School _ both are in Washington, D.C. The salaries, however, were not listed.
Bernanke did not have any gifts or travel expenses to report.
