WASHINGTON (AP) — Ben Bernanke, who stepped down last week after eight momentous years as chairman of the Federal Reserve, is joining the Brookings Institution, a Washington think tank.

Bernanke will be a distinguished fellow in residence affiliated with Brookings' Hutchins Center on Fiscal and Monetary Policy, according to Brookings President Strobe Talbot.

Janet Yellen was sworn in Monday to succeed Bernanke at the Fed.

Bernanke had not previously disclosed his plans but had said he intended to stay in Washington and looked forward to writing and giving speeches on economic policy. Before coming to Washington, he had taught at Princeton University.

Talbot said Bernanke would be a "major contributor to the task of understanding the momentous events of the past eight years."