January 28, 2010

A Strong Bernanke Endorsement


Ringing, cogent and very convincing endorsement of Ben Bernanke by Alan Blinder, a former Fed vice-chairman. His conclusion, framed as a not-so-subtle warning to recalcitrant senators:
No nominee for Fed chairman has ever been rejected by the Senate. Even no votes are relatively rare. In fact, the nominee who received the most negative votes in history was Paul Volcker, who won re-confirmation in 1983 by an 84-16 margin. Yet, in the eyes of many, Mr. Volcker was the greatest Fed chairman ever. Those 16 senators look pretty foolish in the eyes of history. There may be a lesson there.
Contrast this with Paul Krugman's tepid endorsement or with this other lukewarm take on the subject.

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