New York, Dec 16: Federal Reserve Chairman Ben Bernanke was named TIME magazine's 'Person of the Year' for 2009.
"56-year-old Bernanke was picked for his efforts to shepherd the US out of the biggest economic slump since the Great Depression," Managing Editor Richard Stengel said.
Time has called the Fed Chief as "the most powerful nerd on the planet."
He beat out Jamaican sprinter Usain Bolt, Obama, Apple CEO Steve Jobs, House Speaker Nancy Pelosi among other finalists.
The magazine chose President-elect Barack Obama as the winner in 2008.