Monday, October 24, 2005
Ben Bernanke To Replace Greenspan ...
Well, Greenspan is expected to retire in January ... and Bush is expected to name his economic adviser Ben Bernanke to replace him:
From Reuters, title link: WASHINGTON, Oct 24 (Reuters) - President George W. Bush was expected to announce on Monday that he has picked top economic adviser Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan, a knowledgeable source said.
An announcement was to come at 1 p.m. EDT (1700 GMT). Bush told reporters there would be "an announcement soon" on his choice to replace Greenspan, whose 18-year tenure at the Fed runs out on Jan. 31.
Bernanke is chairman of Bush's Council of Economic Advisers. He served on the Fed's Board of Governors for nearly three years before moving to the White House in June....
Bernanke, a highly regarded monetary economist, has advocated steps toward greater policy transparency at the Fed and is a long-time advocate of inflation targets.
At the Fed, he argued the central bank could help cement its inflation-fighting credibility by putting a number on its definition of price stability
It's odd to think about life without Greenspan ...
The market shivered every time he sneezed, and he's survived both Democrat and Republican administrations. Greenspan has also admonished every Congress for the past twenty years or so to cut expenses.
Wish there'd been a US Congress that had listened to him ... ¶ 11:13 AM
From Reuters, title link: WASHINGTON, Oct 24 (Reuters) - President George W. Bush was expected to announce on Monday that he has picked top economic adviser Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan, a knowledgeable source said.
An announcement was to come at 1 p.m. EDT (1700 GMT). Bush told reporters there would be "an announcement soon" on his choice to replace Greenspan, whose 18-year tenure at the Fed runs out on Jan. 31.
Bernanke is chairman of Bush's Council of Economic Advisers. He served on the Fed's Board of Governors for nearly three years before moving to the White House in June....
Bernanke, a highly regarded monetary economist, has advocated steps toward greater policy transparency at the Fed and is a long-time advocate of inflation targets.
At the Fed, he argued the central bank could help cement its inflation-fighting credibility by putting a number on its definition of price stability
It's odd to think about life without Greenspan ...
The market shivered every time he sneezed, and he's survived both Democrat and Republican administrations. Greenspan has also admonished every Congress for the past twenty years or so to cut expenses.
Wish there'd been a US Congress that had listened to him ... ¶ 11:13 AM
