With Ben Bernanke exiting his position as the US Federal Reserve Chairman it's time to reflect on his time in office. There is no doubt that he took over at a tumultuous time (The Financial Express offers a timeline here). My thoughts are simply that we don't know how well he did. Objectively, we know that the FED has consistently missed targets as shown here:
Inflation at 2% and full employment (maybe in the 4-6% range) are the aims of the FED. Since early on in the recession the FED has missed on both repeatedly.
So does FED failure equate to a Bernanke failure?
That's a much different question. We can't run history again with a different FED chairman, and hopefully we don't have the same confluence of economic events to produce an adequate comparable. But without that we can't truly evaluate his role in this.