Ben Bernanke's first stop after an eight-year tenure as chairman of the Federal Reserve will be the Brookings Institution, the Washington think tank announced Monday morning.

Bernanke, a Republican, will be a "distinguished fellow in residence" at the center-left Brookings' Hutchins Center on Fiscal and Monetary Policy, the center's director, David Wessel, announced in a blog post. Wessel, a former Wall Street Journal reporter, also wrote that Bernanke will be writing books. The Hutchins Center, named for investor and patron Glenn Hutchins, was opened in December.

Bernanke left the central bank on Friday, and his successor, former Fed vice chairwoman Janet Yellen, was sworn in Monday morning.

Bernanke won't be the only former Fed chairman to remain active in influencing policy in D.C. Paul Volcker, the chairman during the presidential terms of Jimmy Carter and Ronald Reagan, was instrumental in formulating the regulation of investment banks now known as the "Volcker Rule" following a post-Fed career in investment banking. Alan Greenspan, Bernanke's predecessor, runs his own consulting firm and recently published a book on economic policymaking.

Bernanke, who turned 60 in December, hasn't spelled out plans for his post-Fed life other than joking about a return to academia in June.