Time magazine has named US Federal Reserve Chairman Ben Bernanke as its 2009 Person of the Year.The magazine said the recession itself was the story of the year and without Mr Bernanke at the helm it would have been a lot worse. Mr Bernanke, who is 56, is a former Princeton University professor and an expert on the Great Depression.US President Barack Obama and the Apple chief executive Steve Jobs were also in the running for the award. President Obama was last year's winner.