Economists Call for Bernanke to Stay, Say Recession Is Over

Wall Street Journal ^ | August 11, 2009 | Phil Izzo

[frogjerk]

Economists are nearly unanimous that Ben Bernanke should be reappointed to another term as Federal Reserve chairman, and they said there is a 71% chance that President Barack Obama will ask him to stay on, according to a survey.

Meanwhile, the majority of the economists The Wall Street Journal surveyed during the past few days said the recession that began in December 2007 is now over. Battling the downturn defined most of Mr. Bernanke's term, which began in early 2006 and expires in January, and economists say his handling of the crisis has earned him four more years as Fed chief.

"He deserves a lot of credit for stabilizing the financial markets," said Joseph Carson of AllianceBernstein. "Confidence in recovery would be damaged if he was not reappointed."

[stephenjohnbanker]

“Goldman Sachs Calls for Bernanke to Stay”

There, fixed it.

[WhistlingPastTheGraveyard]

Bookmarking this nonsense for three months from now...

[stephenjohnbanker]

Let’s see if anyone buys the debt.

[dr huer]

The head of the Federal reserve should be required to do his own grocery shopping, and put his super computers away and get out an abacus. Then he would really know what the economy is doing!

[paulycy]

And, how in the world does this fuel recovery efforts?

It doesn't. That's why there are no jobs and a false rise in the market. Even China is hammering us to do something about the debt and the deficit so that all their dollar investments are not flushed down the toilet with the dollar and rest of our economy.

[dr huer]

The head of the Federal reserve should be required to do his own grocery shopping, and put his super computers away and get out an abacus. Then he would really know what the economy is doing!

[In veno, veritas]

I think the recession has ended, although I also think we're at a point where future growth will be small before another recession begins. The idea the FED had anything to do with it is a joke; the economy is doing better in spite of the FED and the next recession will be due to the actions of the FED.

[griswold3]

LOL
Certainly if I were a pigman, I’d want someone in charge to reward my bad behavior so I can continue to ‘loot’.

[stephenjohnbanker]

Therrrre ya go!

[Kells]

the majority of the economists The Wall Street Journal surveyed during the past few days... say [Bernanke's] handling of the crisis has earned him four more years as Fed chief.

It sounds like the WSJ reporter and hand-picked economists were guests at one or more free lunches hosted by the Fed's new lobbyist:

Linda Robertson, a former Treasury official and Enron lobbyist, started working at the Fed to improve its relations with Congress.

[Porterville]

Don’t be a jackass newbee.

[MrEdd]

Which of the three specific factors I mentioned are you prepared to debate?

True real estate value is tied to the true median income. Do you wish to debate that real estate prices have dropped to that level already?

How about attempting to prove that companies are not still laying more people off?

What about these commercial mortgages that haven’t hit the higher rates that were initially deferred....when they were sold on inflated values to begin with?

Or are you saying these things don’t matter...La, La, La, La...you can’t hear me?

[Constitution Day]

Oh, huzzah! We angry mobs can afford to drive our Bentleys again.

Capital!

[Porterville]

I’m debating that posting polly-anish things directed towards me makes you a jackass.

That is all I am debating.

[wolfcreek]

Well, somebody had to pay for Wall Street’s and the International Banking Cartel's indiscretions.

You know they've had a rough couple of years. 8>)