Public pressure is starting to have an impact on Congress.
Sen. Chris Dodd (D-CT), chairman of the Senate Banking Committee and Mr. Banking Insider, said only a month ago that there was a high likelihood of the Fed chairman would keep his current job. "The chairman's not going anywhere," Dodd said during one interview.
Yesterday he told a group of reporters that Bernanke's Senate confirmation for a second term isn't guaranteed.
"Not necessarily, not necessarily," he said in response to a question about whether Bernanke getting a second term was a foregone conclusion. "We'll see how members react."
He went on to say, "I'm inclined to be supportive. I think he's done a far better job over the last couple of years than he did initially. . .but clearly I want to reserve final judgment."
"I think he's done a far better job over the last couple of years than he did initially"
ReplyDeleteSure. 5% interest rate - bad; 0% - good.
Coddling deadbeats and speculators - good; scewing savers- better, huh, Chris?