Why Is Bernanke Joining a Chicago Based Hedge Fund?

Why Is Bernanke Joining a Chicago Based Hedge Fund?
In this file photo, Ben Bernanke (L) and Michael Moskow, president and CEO of the Federal Reserve Bank of Chicago, take questions following an address to the 42nd Annual Conference on Bank Structure and Competition May 18, 2006 in Chicago, Illinois. Scott Olson/Getty Images
Valentin Schmid
Updated:

After testing the waters with giving speeches at $200,000 a pop and becoming a fellow (and blogger) at the Brookings institution, former Fed chairman Ben Bernanke decided it was time for something serious.

One thing is for sure: Despite only being an advisor, he will make some serious money giving advice to Citadel LLC, a Chicago based hedge fund.

Bernanke didn’t really want to tell how much he is going to make, but one can be sure while the hourly wage will be lower than that of his speaking engagements the annual compensation will be higher.

Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.