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October 25th 2005

Ben Bernanke to replace Alan Greenspan

Since Alan Greenspan announced that he would retire when his current term expires in January, rumors over his replacement have circulated like wildfires. Yesterday, George Bush put an end to those rumors by nominating Ben Bernanke, considered by many analysts to be the leading candidate for the position. Bernanke is currently the Chairman of the White House Council of Economic Advisors. Prior to acceding to that post, he served as a Professor of Economics at Princeton University. While economists are already trying to predict how Bernanke will conduct monetary policy as Chairman of the Federal Reserve, Bernanke has not given many clues. The Economist reports:

A controversial speech, in which he suggested that America’s gargantuan current-account deficit was due less to government profligacy than to a global savings glut that is flooding America’s debt markets with capital, set off a heated debate that is still raging.

Read More: Bernanke steps into Greenspan’s big shoes

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Posted by Adam Kritzer | in Central Banks, Politics & Policy, US Dollar | No Comments »

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