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Originally published Friday, August 10, 2012 at 7:46 AM

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Phil Bernanke, father of Fed chair, dies at 85

Phil Bernanke, a longtime pharmacist in Dillon, S.C., and father of the Federal Reserve chairman, has died. He was 85.

The Associated Press

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CHARLOTTE, N.C. —

Phil Bernanke, a longtime pharmacist in Dillon, S.C., and father of the Federal Reserve chairman, has died. He was 85.

J.B. Tallent Funeral Service says Bernanke died Wednesday at Charlotte's Presbyterian Hospital.

Bernanke was in his teens when he moved from New York City to Dillon, where his father opened a drugstore. He served in the U.S. Navy during World War II and graduated from the University of South Carolina and the University of North Carolina before returning to Dillon.

He helped run the family pharmacy for more than 40 years before retiring to Charlotte.

His oldest son, Ben Bernanke, has been chairman of the Federal Reserve since 2006.

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