The Next Chairman of the Federal Reserve

[melchia]

While much of Washington focuses on the Alito appointment, another very important nomination is under way. Ben S. Bernanke is being pushed through for chairman of the Federal Reserve.

Critics argue that with all of the attention on the Alito appointment, Bernanke is being given a 'free ride' through the hearing process:

Senator Richard C. Shelby, Republican of Alabama and chairman of the banking committee, said the Fed chairman was "a lot more important, in the context of everyday life of the economy," than a member of the Supreme Court.

Allan H. Meltzer, a professor of political economy and public policy at Carnegie Mellon University, who is writing a history of the Federal Reserve, felt similarly. "Bernanke is certainly every bit as important as Alito," he said.

Professor Meltzer contended that the banking committee gave Mr. Bernanke "a free ride" during his confirmation hearing, which lasted only one day. During the session, Mr. Bernanke said continuity with the Greenspan era would be his top priority.

"I think they could have pushed Bernanke a little bit more on the questions of how he saw the job and what objectives he was going to pursue," Professor Meltzer said, including "how he thought about the problems of reconciling full employment and low inflation — did he think the Fed had other responsibilities. It seemed to me they really didn't lay many gloves on him."

Full Article

I would like to note that only one senator voted against this appointment at the Senate Banking Committee hearings.

Aside from what the article indicates, does anyone know about this guy?

 

[slerch666]

Aside from what the article indicates, does anyone know about this guy?

Everything I know about politics I learned from the Wikipedia.

Seriously, the Wikipedia is a good starting point to learn about all sorts of things. I'm sure, because it's written by people, it all has a slant in either direction, but it's generally factually accurate, unless an ass biscuit purposefully edits entries with bullshit.

 

[melchia]

Everything I know about politics I learned from the Wikipedia.

Seriously, the Wikipedia is a good starting point to learn about all sorts of things. I'm sure, because it's written by people, it all has a slant in either direction, but it's generally factually accurate, unless an ass biscuit purposefully edits entries with bullshit.

yeah but i was looking for a little political background (affiliations, ties, etc.)...that only indicates a very scant amount of info.

 

[aria]

yeah but i was looking for a little political background (affiliations, ties, etc.)...that only indicates a very scant amount of info.

I knew a lot about the previous nominee, Christopher Cox, but that's because he was a USC alum and I'd met him at an event a long time ago. He was pulled faster than that last supreme court nominee who's name has already floating into obscurity.

 

[melchia]

I guess the major concern is whether or not he can live up to Greenspan. He certainly lacks Greenspan's political experience, but I'm curious to see whether his expertise (as he appears to be regarded as 'brilliant" in the economic community) will be able to cut through the political rhetoric, which goes along with the job.

Hehe...Perhaps, Bush has made a wise decision on this appointment.

 

[PopeCuervoLime]

A wise decision was made about the timing of this appointment hearing too, if you ask me.

 

[ViewtifulZFO]

As I remember, I heard about this guy a couple months ago. He has a lot of investments in Canada for some reason.

 

[melchia]

As I remember, I heard about this guy a couple months ago. He has a lot of investments in Canada for some reason.

do you remember where you heard that?

 

[norton9478]

I knew a lot about the previous nominee, Christopher Cox, but that's because he was a USC alum and I'd met him at an event a long time ago. He was pulled faster than that last supreme court nominee who's name has already floating into obscurity.

Cox was a really fuckwad wasn't he????

 

[ViewtifulZFO]

do you remember where you heard that?

I'm pretty sure it was on FoxNews. Neil Cavuto is pretty informative, so I suppose it would be reliable.

 

[norton9478]

Personally, Bush needs all the help he can get.....

After tonight's State of the Union... People are going to be laughing thier asses off at his attempt to thwart the looming health care crisis...

Health savings accounts are fucking stupider that Privatizing social Security.