Time Names Bernanke Person of Year - TheStreet

NEW YORK (

TheStreet

) --

Time

magazine has named

Federal Reserve

Chairman Ben Bernanke as its 2009 person of the year.

"The story of the year was a weak economy that could have been much, much weaker. Thank the man who runs the Federal Reserve, our mild-mannered economic overlord," says a subhead that accompanies the story.

Time

called Bernanke the "most powerful nerd on the planet."

The winner last year was then-President-elect Barack Obama.

The latest

Time

magazine issue will be on newsstands Friday.

Time magazine is owned by

Time Warner

(TWX)

.

-- Reported by Joseph Woelfel in New York.

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