Beginning of the end for Bernanke

Cato @ Liberty
by Mark A. Calabria

06/29/09

Fed Chairman Bernanke’s term as Chair ends in January 2010. So far President Obama has offered Bernanke praise for his performance, but little else. After last week’s House Oversight Committee hearing focusing on Bernanke’s role in Bank of America’s purchase of Merrill Lynch, it is now readily apparent that the Chairman has few supporters on Capitol Hill. While his nomination will not be subject to the approval of the House of Representatives, or any of its Committees, the Senate Banking Committee’s reaction to Treasury Secretary Geithner’s plan to extend the Fed’s power serves as a useful proxy in gauging that Committee’s view of the Fed’s recent performance...

//tinyurl.com/lohm4u


Informant: Thomas L. Knapp



//freepage.twoday.net/search?q=Obama
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//freepage.twoday.net/search?q=Geithner
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