The Executive Branch has done little right over the last several years. Today, though, this trend paused for a moment when Barack Obama re-appointed Chairman of the Federal Reserve Ben Bernanke to another 4 year term.
Obama joins George W Bush as being members of the very prestigious club of presidents that has appointed Ben Bernanke as Chairman. Though Bernanke has a long road of him in dealing with the recession and exiting the current monetary situation, he is the right man for the job, hands down.
Bernanke has overseen the worst liquidity crunch in over 70 years. He reacted to the crisis by expanding the amount of money in the financial system. What he will truly go down in history for is his ability to add so much money into the system at the extremely low risk levels that he did; and for adding so much liquidity while keeping in mind he would have to undo the expansion shortly. These two measures have kept faith in the dollar and interest rates low- two important factors for future growth.
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Party at Ben's house?
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