Carol Carter, completing five years of service on the board of directors of the Salt Lake City branch of the Federal Reserve Bank of San Francisco, said Fed Chairman Ben Bernanke's policies have been successful.
Carter is a supporter of Bernanke and she praises his response to the financial crisis of 2008. She joined the Salt Lake City board of directors at the beginning of 2008, less than a year before the crisis erupted that fall, and served as the Fed crafted its response.
She said Bernanke's background as a scholar of the Great Depression was important as the Fed handled the economy in the period since the fall of 2008.
"I think his policies did help us through the recession and not dropping down to a depression," Carter, a business executive who lives in Old Town, said.
She supports the Fed maintaining low interest rates and backs the policy of quantitative easing, essentially the Fed bond-buying program. The low interest rates, she said, has spurred borrowing by businesses and individuals.
Carter has met Bernanke numerous times. She said he is "an amazing diplomat." She said he addresses people in plain terms.
"He just doesn't get so caught up in the mathematical aspects," she said. "He speaks to you on a level you and I can understand him easily."