The Chairman of the Board of Governors of the U.S. Federal Reserve. He was preceded by Alan Greenspan, and he took over the position from Greenspan in February 2006. He was appointed to the position by President George W. Bush. Before his position with the Federal Reserve, Bernanke was chairman of the U.S. President's Council of Economic Advisers. As Chairman he oversees the operation of the Federal Reserve Banks and helps to develop monetary policies and curb inflation.