Monday, October 24, 2005

It's Bernanke

The President has named Ben Bernanke as the new head of the Federal Reserve. Although he has expressed a desire to continue Greenspan's policies Bernanke is less of an inflation hawk and Wall Street is reacting to the news by rallying the market, perhaps in hopes that the Fed will slow its tightening of the money supply.

Up next, the confirmation hearings which promise to be hilarious because most Senators know less about economics than a pig knows about Sunday. There are going to be a lot of prepared statements and questions read verbatim off a piece of paper. Kind of like Daniel Akaka does with everything.

On the other hand, Bernanke hired Paul Krugman at Princeton...


Post a Comment

<< Home