This morning, President Obama officially announced that he is reappointing Ben Bernanke for a second four-year term as chairman of the Federal Reserve. The video below contents The President’s statement.
Does anyone have any thoughts on the reappointment? Would you have reappointed Bernanke? If not, who would you have chosen?
I definitely would not have reappointed Bernanke, not after what he did to Bank of America. Don’t know who I would have appointed. But this guy was a Bush insider. Isn’t Obama supposed to be for “hope and change?”
Hi Emily, thanks for posting! I agree that Bernanke was a questionable choice. Mainly, because he supported the flawed policies of the Greenspan Fed and he was slow to recognize the full extent of the credit crisis early on. After he recognized the nature of the crisis he did do a good job addressing the issue. Of course all we’re really doing is turning one problem into another!
-Gen Y Investor
Better to have stability man. If Bernanke wasn’t reappointed, the market would have dived 7% that day. Stability is KEY for the next 12 months. Government shouldn’t mess around.
RB