NBC and Reuters Reporting Bernanke Reappointment to be Made Tuesday

August 25, 2009

This evening around 21:30 EDT (01:30 GMT), U.S. press sources leaked news that President Obama will announce the reappointment of Fed Chairman Bernanke to a second four-year term on Tuesday from his vacation on Martha’s Vineyard.  The leaked nature of the story is unusual in itself, and the timing contrasts with the initial appointment of Bernanke by President Bush at mid-day in Washington (17:01 GMT) on October 24, 2005.  While some in Congress have treated the Chairman with scorn, news of his reappointment is likely to be welcomed by investors.  In my view, he’s handled the crisis very well, understands monetary risks very well, and will not begin raising rates later than necessary.

Copyright Larry Greenberg 2009.  All rights reserved,  No secondary distribution without express permission.

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This entry was posted on Tuesday, August 25th, 2009 at 3:34 am and is filed under Larry's Blog. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “NBC and Reuters Reporting Bernanke Reappointment to be Made Tuesday”

  1. mariolopez says:
    August 25, 2009 at 8:33 pm

    Good Move Obama keep up the good work..

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