Bernanke's Financial Disclosure
Shows Conservative Mix of Assets
By BRIAN BLACKSTONE
August 1, 2007; Page A8
WASHINGTON -- Federal Reserve Chairman Ben Bernanke held financial assets of between $1.1 million and $2.5 million at the end of 2006 in a conservative mix of bonds, money-market funds and annuities, according to financial-disclosure forms released by the Fed.
Mr. Bernanke's assets were little changed from what he reported at the end of 2005. His largest assets were a TIAA annuity valued at between $500,001 and $1 million and a CREF annuity also valued at between $500,001 and $1 million.
His overseas holdings included Canadian Treasury bonds valued at $15,001 to $50,000 and a Vanguard Group international growth fund valued at $1,001 to $15,000. He also owns some Merrill Lynch & Co. funds.
Mr. Bernanke, former economics-department chairman at Princeton University, reported textbook-royalty income of $100,002 to $200,000 last year. As Fed chairman, Bernanke draws an annual salary of $186,600.
Like Mr. Bernanke, Fed Vice Chairman Donald Kohn invested in funds and avoided individual stocks.
In contrast, Fed Governors Randall Kroszner and Frederic Mishkin listed individual-company holdings among their assets, including Pfizer Inc. and Monsanto Co. for Mr. Kroszner and Coca-Cola Co., Lockheed Martin Corp. and Texas Instruments Inc. for Mr. Mishkin.
Mr. Mishkin's portfolio was the most eclectic, with his holdings including $100,001 to $250,000 in Steak n Shake Co. and $1,001 to $15,000 in Tootsie Roll Industries Inc. Mr. Mishkin joined the Fed in September.
Fed governors earn an annual salary of $168,000.
online.wsj.com |
