1 vote

Six months until Obama picks new Fed Chairman. Bloomberg anyone?

Snip from Paul Farrell's article at Marketwatch Mayor Michael Bloomberg as next Fed chairman:

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But why focus on a new Fed chairman now? When the media’s distracted by more immediate issues, like getting to know a new Treasury secretary? Gun control? The political firestorm raging around three upcoming new fiscal cliffs yet to hit, cliffs that will rattle all Americans for several crazy-making months?

Why now? Because even though Bernanke’s four-year term runs till early 2014, nd even though he could be reappointed again as Greenspan was, Bernanke will not be reappointed. The president is putting together a new team. Think back: Bernanke’s reappointment was announced in August 2009, so you can expect another announcement this summer. And as my grandfather used to say, that’s “just around the corner.”

But the real reason to start thinking about this historic decision now is simple, our nation is at a crucial turning point in history: It’s time to end the disastrous generation-long Fed policies of Greenspan and Bernanke, two men driven by blind ideology, not facts and certainly not the good of the people.

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Read the whole thing.