Bernanke speaks at NBER's Summer Institute.

Federal Reserve Board Chairman Ben S. Bernanke spoke to the NBER's Summer Institute in Cambridge on July 10. Bernanke, formerly an academic himself who taught at Princeton, was an NBER Research Associate from 1994 to 2002, and served as Director of the NBER's Monetary Economics Program. He began his remarks by noting: "The informal nature of the NBER Summer Institute, the large number of talented people in attendance, and the opportunity to hear about the very latest work in the field--often while in early draft form--made these few weeks each summer one of the most stimulating times of the year for me. In my current position, I am keenly aware of the long history of fruitful interaction between economists inside and outside of central banks, and I am eager to see this interaction continue. This ongoing intellectual exchange, by improving our understanding of the economy and the workings of monetary policy, has had and will continue to have sizable benefits."