James Pethokoukis

Political woes could push Obama to nix Bernanke

August 21, 2009

The great Andy Busch of BMO Capital Markets draws up a scenario that could see Ben Bernanke get pushed toward the exits:

The case against Bernanke being reappointed as Fed chairman

August 20, 2009

David Rosenberg of Gluskin Sheff outlines the bear case on Ben Bernanke getting reappointed by Obama:

The case against Ben Bernanke

July 30, 2009

Over at ClusterStock, former Merrill Lynch strategist Richard Bernstein tells us why it should be “one and done” for Ben Bernanke. (He compares BB to Burns and Miller from the 1970s. Ouch!)

The Fed more unpopular than the IRS

July 28, 2009

Ben Bernanke isn’t just campaigning for his own reappointment — though that certainly is part of what’s going on. He is also bolstering the public image of the Fed, which could use some help:

Candidate Bernanke hits the campaign trail

July 27, 2009

JamesPethokoukiscrop.jpgIf Ben Bernanke were running TV ads, taking polls and holding town hall-style meetings, it wouldn’t be any clearer that he’s conducting an explicit reelection campaign for another four-year term as Federal Reserve chairman come next January. Oh, wait a second, he just did hold an unprecedented town hall meeting. And it was one worthy of a presidential candidate charming primary voters in Iowa.

Bernanke: I saved the economy. Give me another term

July 21, 2009

This from Mike Feroli of JPMorgan (bold is mine):

Beyond the issues surrounding the economy and exit strategies, another aspect of the testimony that was of interest was the political angle. Bernanke made his strongest case to date that Fed actions have helped prevent what could otherwise have been an economic catastrophe. His very first sentence of the testimony read “Aggressive policy actions taken around the world last fall may well have averted the collpase of the global financial system.” After listing the notable imporvements in credit markets, he goes on to say “Many of the improvements in financial conditions can be traced, in part, to policy actions taken by the Federal Reserve to encourage the flow of credit.” These statements should be seen in the context of the whithering criticism of the Fed’s conduct of policy, some of that criticism coming from within Congress.

The case against Ben Bernanke

July 20, 2009

My pal John Tamny doesn’t think the Fed chairman deserves a second term for the following reasons

Fed Watch: Obama’s shortlist for next Fed chair

July 9, 2009

From the WSJ:

Treasury Secretary Timothy Geithner is expected to play a key role in advising President Barack Obama on whether to reappoint Mr. Bernanke. Mr. Geithner has worked closely both with Mr. Bernanke and with the leading alternative for the powerful post — Lawrence Summers, the former Treasury secretary, who is currently the president’s top economic adviser.