Bernanke’s confirmation, quite properly, is in trouble

Federal Reserve Chairman Ben Bernanke’s confirmation is in trouble, and rightly so. Seems the Chairman prioritizes inflation-fighting above tackling a 10% unemployment rate. In his own words, he pointed out that “…the longer-run inflation expectations of households and businesses have remained very stable over recent years,” in other words, inflation’s really not a problem. It’s not that Bernanke thinks there’s nothing he can do, it’s that there’s nothing he thinks he should do. It’s not a matter of can’t, it’s a matter of won’t. As long as the problem was just the historical matter of how he handled the housing bubble, he was probably okay for a second term. Now, however, there are serious doubts about his suitability to continue in the job.

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