Greenspan's heir apparent
President Bush on Monday named his chief economic adviser, Ben Bernanke, to succeed Alan Greenspan as chairman of the Federal Reserve.
The 51-year-old former Fed governor and Princeton University economist was considered a top candidate, in part, because of his close relationship with Mr. Bush, who named Bernanke to the Fed Board in 2002 and chairman of his Council of Economic Advisers earlier this year.
Some encouraging words from Chuck Schumer;
"We need a careful, non-ideological person who understands that the Federal Reserve's main job is to fight inflation, and Ben Bernanke seems to fit that bill." -- Sen. Charles Schumer, D-N.Y.
But the comment that sealed the deal for me was from the ol' senile former baseball pitcher and current Republican cretin, Jim Bunning;
"Its a shame that President Bush has decided to select Dr. Ben Bernanke as chairman of the Federal Reserve. Though I believe Dr. Bernanke has the qualifications to be chairman of the Federal Reserve, I must oppose this nomination." -- Sen. Jim Bunning, R-Ky.
Bernanke's got great credentials, the stock market liked the pick, I heard Ted Kennedy and some other Democrats like him and Jim Bunning obviously doesn't, so it might be a good pick. We'll see how independent he becomes...we'll see how much 'crony' he has in him.
Greenspan's heir apparent
President Bush on Monday named his chief economic adviser, Ben Bernanke, to succeed Alan Greenspan as chairman of the Federal Reserve.
The 51-year-old former Fed governor and Princeton University economist was considered a top candidate, in part, because of his close relationship with Mr. Bush, who named Bernanke to the Fed Board in 2002 and chairman of his Council of Economic Advisers earlier this year.
Some encouraging words from Chuck Schumer;
"We need a careful, non-ideological person who understands that the Federal Reserve's main job is to fight inflation, and Ben Bernanke seems to fit that bill." -- Sen. Charles Schumer, D-N.Y.
But the comment that sealed the deal for me was from the ol' senile former baseball pitcher and current Republican cretin, Jim Bunning;
"Its a shame that President Bush has decided to select Dr. Ben Bernanke as chairman of the Federal Reserve. Though I believe Dr. Bernanke has the qualifications to be chairman of the Federal Reserve, I must oppose this nomination." -- Sen. Jim Bunning, R-Ky.
Bernanke's got great credentials, the stock market liked the pick, I heard Ted Kennedy and some other Democrats like him and Jim Bunning obviously doesn't, so it might be a good pick. We'll see how independent he becomes...we'll see how much 'crony' he has in him.
