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commentary on Politics and a little bit of everything else

The Federal Reserve is getting an opening…and Obama will fill it….

The members of the Federal Reserve board may be nameless and faceless to the general public, but the announcement that Vice Chairman Donald L. Kohn is retiring opens up a huge opportunity for President Obama, who soon will have three vacancies to fill on the central bank’s seven-member body.

The open seats will likely prompt debate over the priorities of the Federal Reserve: whether to pursue monetary policies friendly to job growth or continue on the path as the nation’s chief inflation fighter through tinkering with interest rates.

Princeton economics professor Alan S. Blinder said party affiliation doesn’t matter when it comes to creating jobs. “Any incumbent president wants to see the economy grow,” Blinder told the New York Times. “. . . So, I wouldn’t be surprised if the Obama administration is looking for someone more dovish on inflation.”

The June departure of Kohn, a 40-year veteran of the Fed, comes with two existing vacancies, and in the aftermath of Obama’s successful reappointment in January of Ben S. Bernanke as Fed chairman. Christina D. Romer, chairwoman of the White House Council on Economic Advisers, is among those mentioned as a possible nominee for one of the vacancies, the Times said.

Obama has already named banking law expert Daniel K. Tarullo to the Fed board.

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March 2, 2010 Posted by | Blogs, Breaking News, Government, Law, Media, Other Things, Politics, The Economy, Updates | , | 2 Comments

The Federal Reserve thinks the economy is getting better…but has allowed interest rates to hold……

While they are happy with the recovery …and they also have to look over their shoulders at unemployment rates which went up a tick last week (up about 7,000)….

Traditionally more worried about inflation, the Fed is a bit more wary about messing with things with Bernanke still not approved for a new 5 year hitch  yet, and an administration still worried about employment…higher interest rates ( the current key interest-rate has been at the 0 to 0.25% range) would mean less borrowing in housing, business and governmental sectors….Something that would extinguish any upward movement in the economy…..

The question for them will likely be…..how long can the financial markets and other expect those low rates to last?

December 17, 2009 Posted by | Government, Media, Politics, The Economy | , , | Leave a comment

Federal Reserve Chairman Bernanke is a lock……

The Senate Banking Committee, has approved sending his nomination to the full Senate for a vote,  for another five term, as the chair of the Fed by a vote of 16 to 7……The Time Magazine “Person of Year “ will be keeping his day job….

December 17, 2009 Posted by | Breaking News, Government, Media, Men, Politics, The Economy | , , , , | Leave a comment

Federal Reserve Chairman Ben Bernanke is Time Magazine’s Man of the Year!….

He, he, he……take that you Republican’s trying to derail his re-appointment for another five years as Federal Reserve Chairman!

You gotta give him his due…the economy is on its way up…slowly…but on its way up……

December 16, 2009 Posted by | Breaking News, Entertainment, Government, Media, Men, Politics, Taxes, The Economy | , , , , | Leave a comment

Federal Reserve Chairman Ben Bernanke is Time Magazine's Man of the Year!….

He, he, he……take that you Republican’s trying to derail his re-appointment for another five years as Federal Reserve Chairman!

You gotta give him his due…the economy is on its way up…slowly…but on its way up……

December 16, 2009 Posted by | Breaking News, Entertainment, Government, Media, Men, Politics, Taxes, The Economy | , , , , | Leave a comment

The Chair of the Federal Reserve is fighting Congress on oversight…..

Ben Bernanke, is firing back at members of Congress that want to sponsor a bill to put congressional oversight of the agency that is this countries central bank. The Fed also sets policy and rates for the this country, and its banking system……It has been independent, and in the background, until financial problem come up……In my opinion, congress has  turned to its operation as a scapegoat for the mistakes made by the past White House……The bill put forth to the members of the House has 313 sponsors…which I think has that strong backing because, the members of the House know there is NO CHANCE that the Senate would vote to accept a similar bill…….

November 28, 2009 Posted by | Government, Media, Politics, The Economy | , , , , , | Leave a comment