President Obama makes up his mind to appoint Bernanke as Fed Chairman,five months ahead .Economists feel that he is the right choice.He faltered at the early stages, but learnt a lot by mistakes.He made a mess of the foreclosure crisis.Obama said that his temperament, courage and creativity helped to prevent another Great Depression.
Bernanke fumbled under pressure in not finding a way out to take over Lehman Brothers.He has revolutionary ideas.He has cut rates and opened a discount window to more firms.Economy is showing recovery, but still unemployment is looming large.He has to pay a serious consideration in putting things together.
His performance has won him a grade of D+ -69 as calculated by the economists .He was awarded low marks below 20.His median grade is 80.But , if he could pull back the economy to reasonable status , then he will go down in history as one of the greatest fed Chairman.He has to deliberate on the vast expansion of the balance sheets, and has to screw up the money supply. He has to tread a careful path.
Stock futures pointed to a moderately high opening.Bernanke, if chosen, vows to restore”more stable financial and economic environment in which opportunity can again flourish and in which Americans hard work and creativity can receive proper awards.”
Meenas Poems 