Cerebral Shangrila

Tuesday, October 25, 2005

The new Fed Chairman

I somehow thought he would never retire. Greenspan has always had that aura of immortality surrounding him. But now the most powerful man on the planet (or the second most powerful depending on whom you listen to), has decided to retire. The new appointee , Mr. Ben Bernanke , is currently the chief economic advisor to US Govt and if approved by the Senate, will take over as Fed chairman from early 2006.

The expectations will be sky high. Afterall being a successor to superstars Paul Volcker & Alan Greenspan isn't an easy job. Bernanke seems to have the right pedigree though ( Degrees from Harvard,MIT and academic stints at Stanford,Princeton). Also like Greenspan, Bernanke believes that the primary role of Fed is " fighting inflation" .

The business community seems elated by Bernanke's nomination and so are the markets . Welcome Mr.Ben Bernanke !


  • In the last 'Economist' edition only, I was reading an article about several choices avble in front of the Govt to choose one...

    If this is good for the world economy, why not? We can welcome as well..

    By Blogger Ram C, at 10:36 AM  

  • Though he is a Republican, he is expected to be neutral and good for the economy.

    By Blogger Cogito, at 2:46 PM  

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