i just don't understand why bush would nominate a fed chairman when the market has been swooning - and swooning in october, to boot. not a very shrewd move on his part or the part of his advisors.
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bad bush timing
- Thread starter killATwill
- Start date
cnbc suggesting bernanke. buy gold.
Dow Jones stating it's Bernanke. Too bad. With the huge deficits, the strictest inflation hawk is Marty Feldstein.
Hillary will inflate in '08.
Hillary will inflate in '08.
i think probably the best time to do it is November. Bernanke is a shoe in. Hubbard, Kohn, Feldstien were shoe-ins too. The confirmation process shouldn't take a long time. I think doing this outside of Oct and after earnings season would have been more prudent.
Bernake's focus seems to be on DEFLATION, not inflation.
See his famous "helicopter" speech (probably a term more accurately attributed to M.Friedman, but he's stuck with it)
Suggests to me that long term fed policy will now be:
1. USD weak
2. Increased short and long term interest rates
3. Much more inflation friendly than greenspan (5-6% is agreed)
http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm
See his famous "helicopter" speech (probably a term more accurately attributed to M.Friedman, but he's stuck with it)
Suggests to me that long term fed policy will now be:
1. USD weak
2. Increased short and long term interest rates
3. Much more inflation friendly than greenspan (5-6% is agreed)
http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm
He likes inflation targets. Me thinks Weimar fans will not be heard from for a very, very long time.
Bernanke is widely known as a dove on inflation. the market has determined if he gets in the fed rate increases are done. that is why the market is so strong imho.