Bernanke Tabbed as Greenspan’s Replacement
President Bush has nominated Ben Bernanke to replace the venerable Alan Greenspan as Chairman of the Federal Reserve Board. According to Bernanke, his main priority will be to “maintain continuity with the policies and policy strategies established during the Greenspan years.” That being said, Bernanke favors adopting formal inflation goals to help guide interest-rate policies, whereas Greenspan is opposed the setting of such targets, as they tend to restrict the Fed’s ability to act. Regardless of this difference in opinion, the stock market responded favorably to the news, notching its biggest one-day gain in six months. Greenspan, who is 79, is set to step down on January 31, 2006.
[Source: National Business Review]
Published on October 24th, 2005 - Leave a Comment
Filed under: Economy
email this article
- add to tip'd - stumble it - digg it - bookmark it
About the author: Related articles...
» From the Archives (October 21st - October 27th)» Why do Credit Cards Expire?
» Thoughts on Long Term Disability Insurance
» Second Stimulus Check? Another One Might be on the Way
» eBay to the Rescue
» Solving Dish Network Customer Service Problems
» Second Stimulus Check?
» Home Renovation Complete
Was this article useful? Please sign up to receive our content via e-mail:
Articles via RSS
Comments (scroll down to add your own):
None so far - share your thoughts and be the first!
Leave a comment