Bernanke Wins New Term

[I AM NOT THAT GUY 5,715]

Ben Bernanke won the backing of the Senate for a second four-year term as chairman of the Federal Reserve by a comfortable margin (?) Thursday. Even with that storm behind him, Mr. Bernanke faces formidable political and economic challenges made tougher by the bruising confirmation fight.

Weeks of criticism from Congress—and moments during which his confirmation prospects seemed uncertain—have weakened Mr. Bernanke's political standing. That may make it harder for him to defend the Fed as Congress prepares to intensify its oversight of monetary policy and curb the Fed's authority over the banking system. Mr. Bernanke's predecessor, Alan Greenspan, called his own occasionally tense relations with Congress "tranquil" by comparison.

The intense scrutiny of Mr. Bernanke's record underscored risks to the Fed's cherished independence to change interest rates without political interference. That independence is key to retaining financial markets' confidence in the central bank.

Fed officials "are going to be fighting a rear-guard action against congressional encroachment and interference," says Martin Barnes, managing editor of Bank Credit Analyst, an investment research firm.

Largely because of the extraordinary measures the Bernanke Fed took to protect the economy during the financial crisis, the central bank now faces a series of complicated, politically charged choices.

By the end of March, it will hold nearly $1.25 trillion of mortgage securities guaranteed by Fannie Mae and Freddie Mac, which the U.S. Treasury effectively owns and runs. Any move to reduce those holdings could lead to a rise in mortgage rates and could become another political lightning rod.

http://online.wsj.com/article/SB1000142405...DNewsCollection

[w¡n9Nµ7 §£@¥€r 123]

good

[scandal 951]

good

What's good? That the Fed holds the MBS? Or that they plan to unload them?

Speak sense man!

[w¡n9Nµ7 §£@¥€r 123]

What's good? That the Fed holds the MBS? Or that they plan to unload them?

Speak sense man!

bernanke's reconfirm

[scandal 951]

bernanke's reconfirm

Ah ok. I thought you referred to the part Bill had bolded.

I'm glad Bernanke got reconfirmed as well.

[w¡n9Nµ7 §£@¥€r 123]

Ah ok. I thought you referred to the part Bill had bolded.

no i dont care about bill's bolding

his bolding is for me to poop on

[one...two...tree 2,762]

Ah ok. I thought you referred to the part Bill had bolded.

I'm glad Bernanke got reconfirmed as well.

I watched the piece on 60 Minutes about him. He seems like a good man.

[I AM NOT THAT GUY 5,715]

no i dont care about bill's bolding

his bolding is for me to poop on

[w¡n9Nµ7 §£@¥€r 123]

[scandal 951]

I feel another poop coming on. Bill, better roll out some bold text!