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Discussion Starter · #1 ·
Unbelievable. Talk about a huge mistake.

Either way he should get his butt sent to the curb over his handling of this...

The Fed is supposed to be an independent body, without political leaning in either direction to maintain its objectivity on fiscal matters.

What a nut job. :eyeroll:

The Wall Street Journal is reporting that Bernanke Endorses Obama

Ben Bernanke apparently wants four more years as Federal Reserve Chairman. At least that's a reasonable conclusion after Mr. Bernanke all but submitted his job application to Barack Obama yesterday by endorsing the Democratic version of fiscal "stimulus."

While the Fed chief said any stimulus should be "well targeted," even a general endorsement amounts to a political green light. Mr. Bernanke certainly knows that Mr. Obama and Democrats on Capitol Hill are talking about some $300 billion in new "stimulus" spending, while President Bush and Republicans are resisting. And by saying any help should "limit longer-term effects" on the federal deficit, he had to know he was reinforcing Democratic opposition to permanent tax cuts.

Mr. Bernanke could have begged off -- and would have been wiser to do so -- given how much the Fed has already made itself a political lightning rod with its many Wall Street interventions. He might also have thought twice about endorsing one party's policy preferences a mere two weeks before Election Day given his obligation to preserve the Fed's independence. We can remember when tougher Fed chairmen used to refrain from adjusting interest rates close to an election for fear of seeming to be political; they would never have dreamed of meddling in campaign tax and spending debates.

Perhaps Mr. Bernanke's blunderbuss political intrusion will win him more Democrat friends, and maybe even Mr. Obama's goodwill. To the rest of the world, he has harmed the Fed and made himself less credible.
 

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I would have been surprised if he had not. I think if Obama gets in he is in hopes that many of his blunders may not come to public exposure.
 

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Discussion Starter · #3 ·
We'll see if the WSJ can be trusted to be accurate on this one. Further digging, indicates that they are basing their article on remarks today before the House Committee and some others did not come away with the same interpretation that Bernanke was endorsing Obama.

Rather, they believed he said an additional stimulus should be considered, even after it was the White House that announced that they would consider an additional stimulus package as another measure to shore up the economy.

I think the WSJ may have their own "twist" on this story. We'll see if it has any legs later today...
 
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