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Bernanke Earns Big Bucks in First Post-Fed Speech

/ Source: Reuters
Dough boy. Former Fed chief Bernanke earned more in his first post-Fed speech than he made all of last year as head of the central bank.
Dough boy. Former Fed chief Bernanke earned more in his first post-Fed speech than he made all of last year as head of the central bank.GARY CAMERON / Reuters

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Ben Bernanke earned more in 40 minutes on Tuesday than he made all of last year as head of the U.S. Federal Reserve.

Bernanke was paid at least $250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in January, according to sources familiar with the matter. That compares to his 2013 paycheck of $199,700, and the appearance was only the first of three around the world this week.

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Dough boy. Former Fed chief Bernanke earned more in his first post-Fed speech than he made all of last year as head of the central bank.
Dough boy. Former Fed chief Bernanke earned more in his first post-Fed speech than he made all of last year as head of the central bank.GARY CAMERON / Reuters

Bernanke's public post-Fed debut was a departure from the private audiences that his predecessor Alan Greenspan addressed shortly after he handed over the central bank's reins in 2006. In his remarks, Bernanke recounted the Fed's response to the 2007-2009 financial crisis, an issue he is exploring for a book he plans to shop around to publishers.

In hitting the speaking circuit, Bernanke is following a well-trod path of top public servants cashing in on the demand for the insights they can offer. In the case of a one-time Fed chairman, those insights could potentially be market-moving.

And given that his successor, Janet Yellen, has vowed to stay the course he set, investors could view him as a weather vane for the world's most powerful central bank.

Lawyers and agents say Bernanke, 60, should be able to command around $250,000 per speech for a while to come.

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