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May 6, 2014 7:19 PM by Associated Press

Pricey book deal for former Federal Reserve chairman

NEW YORK (AP) - Former Federal Reserve Board chairman Ben Bernanke has a book deal worth at least $1 million.

Bernanke's agreement is with publisher W.W. Norton & Co. for a book that will cover his years at the Fed and his response to the economic crisis of 2008. Norton told The Associated Press on Tuesday the currently untitled book is scheduled for 2015.

The book was in a multiday auction among rival publishers. Two publishing officials with knowledge of the negotiations tell the AP bidding for it reached seven figures. The officials weren't authorized to discuss the deal and asked not to be identified.

Bernanke served on the Fed from 2002 until this year. He was appointed to two four-year terms as chairman. He was succeeded by Janet Yellen.

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