Time magazine names Fed chief Ben Bernanke ‘Person of the Year’

NEW YORK — U.S. Federal Reserve chairman Ben Bernanke has been named Time magazine’s “Person of the Year” for 2009.

This photo released by Time Magazine Wednesday

NEW YORK — U.S. Federal Reserve chairman Ben Bernanke has been named Time magazine’s “Person of the Year” for 2009.

In choosing Bernanke, 56, Time said Wednesday that he is the most important player guiding the world’s most important economy.

“His creative leadership helped ensure that 2009 was a period of weak recovery rather than catastrophic depression, and he still wields unrivalled power over our money, our jobs, our savings and our national future,” the magazine added.

“The decisions he has made, and those he has yet to make, will shape the path of our prosperity, the direction of our politics and our relationship to the world.”

Last year’s winner was then-president-elect Barack Obama. The 2007 winner was Russian prime minister Vladimir Putin.

Other previous winners have included Bono, president George W. Bush, and Amazon.com CEO and founder Jeff Bezos.

In Canada, the Bank of Canada governor, Mark Carney, has also been a key figure in the economy’s recovery as he kept interest rates low and pumped billions of dollars into financial markets during the credit crunch to loosen up bank lending to consumers and companies.

Recently, Carney has begun to warn about rising household debt in Canada and the possibility that rising interest rates in future could squeeze consumers faced with a jump in debt servicing costs on everything from mortgages and consumer loans to credit cards.

Just Posted

One strong wind leaves years of replanting work for Red Deer parks staff

High visibility boulevards already replanted, neighbourhood work starts next year

Red Deer-area indigenous filmmakers invited to apply for $20,000 grant

Storyhive launches Indigenous Storyteller Edition

Restaurant closed after compliance team patrol

Public Safety Compliance Team checked eight bars and restaurants on Oct. 19

Red Deerians await local cannabis stores

So far 31 stores in Alberta awarded licence to operate

Rimbey RCMP seek missing man with health concerns

Has anyone seen Bill Harris of Ponka County?

WATCH: Make-A-Wish grants Star Wars loving teen’s wish

The Make-A-Wish Foundation granted Anakin Suerink’s wish in Red Deer Saturday afternoon

Local Sports: Rudy Soffo valuable to Kings on the court

When Rudy Soffo first saw the RDC basketball Kings roster he was… Continue reading

Except for 1 kick, Saints, Ravens are evenly matched

BALTIMORE — In a matchup between the league’s highest-scoring offence and top-ranked… Continue reading

Julia Louis-Dreyfus gets a top award for comedy

WASHINGTON — After a 35-year acting career and with two iconic television… Continue reading

Ricky Skaggs, Dottie West enter Country Music Hall of Fame

NASHVILLE — Bluegrass and country star Ricky Skaggs, singer Dottie West and… Continue reading

AP Exclusive: Stephen Hawking’s wheelchair, thesis for sale

LONDON — Stephen Hawking was a cosmic visionary, a figure of inspiration… Continue reading

Canada deemed U.S. a safe country for asylum seekers after internal review

OTTAWA — Canadian immigration officials have determined that the United States remains… Continue reading

Bombardier sues Mitsubishi over alleged theft of aircraft trade secrets

MONTREAL — Bombardier is suing Mitsubishi Aircraft in the United States over… Continue reading

Three strong earthquakes reported in Pacific Ocean off Vancouver Island

Three relatively strong earthquakes were recorded Sunday night in the Pacific Ocean… Continue reading

Most Read