Different River

”You can never step in the same river twice.” –Heraclitus

October 24, 2005

New Fed Chairman Nominated

Filed under: — Different River @ 5:36 pm

Alan Greenspan will be term-limited out of his job as Chairman of the Board of Governors of the Federal Reserve on January 31, 2006. (Actually, he was appointed to a fifth four-year term as chairman less than four years ago, but he is being term-limited off his position on the Board itself, and he can’t be Chairman without being on the Board.)

President Bush has nominated Ben Bernanke to succeed Greenspan.

Talk about big shoes to fill, in terms of public reputation. Bernanke is a solid choice, who has a long career as a respected economist and is now Chairman of the Council of Economic Advisors. It’s a very solid choice.

UPDATE:

The Wall Street Journal has collected the thoughts of several economist-bloggers (not including me, but that’s OK.)

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