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Ben Bernanke has been tapped to replace retiring Fed chairman Alan Greenspan. Bernanke is an inflation hit man. Questions are already being raised about his loyalty to the president however as Bernanke currently chairs the presiden't Council of Economic Advisers.
The Washington Post picked up the AP story on the subject. Greenspan's been on the job since 1987 (Reagan pick)and will retire as of Jan 31, 2006.
There had been widespread speculation that Bush might act as early as this month to give the Senate time to act on the nomination before Greenspan's term expired.
Dr. Peter Morici sent out a quick email about the nomination with a little info on Bernanke.
The good professor generally isn't espousing one party or the other in his statements. He's a learned economist who calls them like he sees them. He is right about Bernanke. There's no way to know what he will do until he gets there.
posted by Stithmeister @ 1:18 PM
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Dubbyah likes him.
Therefore, Bernanke is:
3)Loyal beyond reason to
George W. Bush.
Question for those who understand constitutional law: Is there any way for the American people to stop a Fed Chairmanship short of assassination?
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I'm currently working in the telecomm industry but one of my passions is still politics.
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