Will Bernanke be reappointed?
Policy-makers, academics and analysts from around the world are gathered at a remote lodge in Wyoming’s Jackson Hole this week to reflect on the financial crisis.
One of the topics of conversation on the sidelines of the conference is whether President Barack Obama will reappoint the chairman of the U.S. central bank — Ben Bernanke — whose term ends early next year.
Two veteran Fed-watchers weigh in:
GLENN HUBBARD, DEAN OF COLUMBIA’S GRADUATE SCHOOL OF BUSINESS
“I think the bar for replacing Bernanke would have to be very high, in the middle of the crisis he has shown determination to take very bold action and his own knowledge has been very specific and helpful in the crisis.”
MICKEY LEVY, CHIEF ECONOMIST, BANK OF AMERICA
“From the Obama administration’s point of view, he has done a lot right…financial markets have stabilized, in part due to the very aggressive actions by the Fed. I do think he’ll be renominated and then once that occurs he faces just enormous challenges that go way beyond the traditional monetary policy discussions about inflation and economic growth.”