- published: 26 Apr 2015
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Tokyo (東京, Tōkyō?, "Eastern Capital") [toːkʲoː], English /ˈtoʊki.oʊ/; officially Tokyo Metropolis (東京都, Tōkyō-to?), is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of the world. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family. Tokyo is in the Kantō region on the southeastern side of the main island Honshu and includes the Izu Islands and Ogasawara Islands. Tokyo Metropolis was formed in 1943 from the merger of the former Tokyo Prefecture (東京府, Tōkyō-fu?) and the city of Tokyo (東京市, Tōkyō-shi?).
The Tokyo Metropolitan government administers the 23 special wards of Tokyo (each governed as a city), which cover the area that was the city of Tokyo, as well as 39 municipalities in the western part of the prefecture and the two outlying island chains. The population of the special wards is over 8 million people, with the total population of the prefecture exceeding 13 million. The prefecture is part of the world's most populous metropolitan area with upwards of 35 million people and the world's largest urban agglomeration economy with a GDP of US$1.479 trillion at purchasing power parity in 2008, ahead of New York City metropolitan area, which ranks second on the list. The city hosts 47 of the Fortune Global 500 companies, the highest amount of any city.
Ben Shalom Bernanke (English pronunciation: /bərˈnæŋki/ bər-NANG-kee; born December 13, 1953) is an American economist and currently chairman of the Federal Reserve, the central bank of the United States. During his tenure as chairman, Bernanke has overseen the Federal Reserve's response to the late-2000s financial crisis.
Before becoming Federal Reserve chairman, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave. From 2002 until 2005, he was a member of the Board of Governors of the Federal Reserve System, proposed the Bernanke Doctrine, and first discussed "the Great Moderation"--the theory that traditional business cycles have declined in volatility in recent decades through structural changes that have occurred in the international economy, particularly increases in the economic stability of developing nations, diminishing the influence of macroeconomic (monetary and fiscal) policy. Bernanke then served as chairman of President George W. Bush's Council of Economic Advisers before President Bush appointed him on February 1, 2006, to be chairman of the United States Federal Reserve. Bernanke was confirmed for a second term as chairman on January 28, 2010, after being re-nominated by President Barack Obama.