joefromchicago wrote: John Drury wrote:
2) How will he do trying to fill th enormous shoes of Alan Greenspan
Considering that Greenspan, in his support for the Bush tax cuts, acted as an unpaid shill for the Republican party rather than as an independent watchdog for the American economy, I don't suppose that Bernanke can do a much worse
job. But there's plenty of time to find out.
While many economists will agree with you that Greenspan's tax cut advocacy was foolish, almost all of them would disagree about your "don't suppose Bernanke can do a much worse
job". As a setter of monetary policy, liberals like Paul Krugman give him an 'A-', conservatives like Milton Friedman give him an 'A+', and that's all the partisan disagreement there is about Greenspan the manager of the money supply. (This disagreement is par for the course, I guess. Sadly, my views on constitutional law aren't shared by that many constitutional lawyers either.)
Interesting info about the tax guy. I suspected something like this. I think he'll get one of the two other vacant Fed governor posts instead, and I'm sure he'll do a heck of a job.