Ex-Federal Reserve chief Ben Bernanke is joining hedge fund Citadel

Jessica Morris
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Bernanke has landed a new job (Source: Getty)

During his time as chief of the world's most powerful central bank, Ben Bernanke helped steer the United States economy away from financial Armageddon.

He threw the country's investment banks a much needed life-line, enacted an enormous direct stimulus package and large-scale monetary stimulus.

Fast forward to today and Bernanke has been taking it a little easier for the past year, having left the Federal Reserve and handed the reigns over to Janet Yellen in January 2014.

He left the United States economy in much better health. The employment rate is down to just 5.5 per cent and it's expected to grow by an acceptable three per cent for 2015. Additionally the Fed has ended its huge asset purchases programme and is gearing up to raise interest rates.

So it's a fitting time for Bernanke to begin his first full-time private sector post since exiting the fed, with a senior advisor role at hedge fund Citadel, according to a report by the New York Times. The fund is reportedly worth $25bn (£37.1bn) and was founded by billionaire investor Kenneth Griffin.

Bernanke explained the rationale behind his decision to head to Citadel as the fact that it is not regulated by the Federal Reserve and "won't be doing lobbying of any sort". He didn't want to look like there was any conflict of interest.

He'll remain a full-time fellow at American think tank the Brookings Institution.

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