Greenspan successor

[sonic1]

As troubling as his selections for the high courts is the fact Bush will pick Greenspan's successor.

[clinthopson]

Cronies line up to the right, the far right.

[Douglas]

That list of potential candidates is pretty impressive to me with the exception of Lindsey, who I don't know enough about. There's already been a winnowing of potential replacements. I'd guess Bernanke is the favourite now and he would be a very good choice IMO.

[Gordon B]

Originally Posted by Douglas

That list of potential candidates is pretty impressive to me with the exception of Lindsey, who I don't know enough about. There's already been a winnowing of potential replacements. I'd guess Bernanke is the favourite now and he would be a very good choice IMO.

I think Bernanke, Feldstein, Hubbard, and Lindsay are the only candidates. Feldstein, as well as Bernanke is unassailable and probably Hubbard as well, right Douglas?

[Douglas]

You are probably right, though I wouldn't want to eliminate Kohn and Ferguson from the running. The Federal Reserve has real depth of talent in its governors.

Two questions back. Who would be the best at "open mouth operations" from the markets perspective? Has anyone opened a book on this yet?

[Gordon B]

Originally Posted by Douglas

You are probably right, though I wouldn't want to eliminate Kohn and Ferguson from the running. The Federal Reserve has real depth of talent in its governors.

Two questions back. Who would be the best at "open mouth operations" from the markets perspective? Has anyone opened a book on this yet?

Don't know who would be the best spokesman.
Tradesports has Fed nomination futures markets. The liquidity isn't great. There's a 30 bid on Bernanke. Feldstein is second, then the other two about the same. Kohn and Ferguson are longshots.

I met a Rutgers economist, Michael Bordo, during a boat ride along the Li River in Guilin, China, in the summer of 2004. He's close to Feinstein. Maybe I should drop him an email. He was amazed that he met somebody (me) on a slow boat in China who voted for the same candidate that he did in 2000 (Harry Browne).

[Douglas]

Thanks, Gordon. I'll be interested to see how this market develops

Originally Posted by Gordon B

I met a Rutgers economist, Michael Bordo, during a boat ride along the Li River in Guilin, China, in the summer of 2004. He's close to Feinstein. Maybe I should drop him an email. He was amazed that he met somebody (me) on a slow boat in China who voted for the same candidate that he did in 2000 (Harry Browne).

That's funny; small world

[Gordon B]

Greenspan's Successor

Exclusive -- Must Credit In The Agora

ITA is proud to announce that we have the inside scoop on who President Bush will nominate to be Chairman of the Federal Reserve. High-level officials have revealed to ITA staff that long-time Bush family accountant Aaron Rodgers has been picked to fill the top slot at the Fed. Bush is expected to announce the nomination Friday morning at a press conference.

An advance copy of Bush's remarks shows that the President will credit Rodgers as a trustworthy friend who can be sure to fairly adjust the interest rate, "and all that other stuff." Rodgers has previously enjoyed the President's confidence as the Texas Commissioner of Consumer Credit, a position in which he served for six months. When asked why the term was so short, senior sources told us, "Well, the Bush family knows a lot of accountants, and he had to make sure everyone got a turn." The President tapped Rodgers, or "A-Rod III" as the President has nicknamed him, to come to Washington early in his Administration to, "Help install Quicken on the computers. He's really good with that." It is unclear what Rodgers has been doing since then, but he remains on the White House payroll as a senior consultant.

In remarks on Tuesday, Bush stirred speculations as to outgoing Chairman Alan Greenspan's replacement. Some pundits questioned whether the chairmanship would be filled by more than one person, as Bush said, "The nominees will be people that, one, obviously can do the job and, secondly, will be independent. It's important that whomever I pick is viewed as an independent person from politics. It's this independence of the Fed that gives people, not only here in America but the world, confidence."

A reporter then asked, "You mean, the same kind of independence required of the judiciary?" To which Bush replied, "What's that supposed to mean?"

Posted by Zach Wendling at October 5, 2005 10:35 PM
Comments

Ya know, Dubya could have appointed Miers to the Fed and Greenspan to the Supreme Court.

She did major in math:

[Douglas]

Glenn Hubbard's students let us know that he's not bitter.

[Gordon B]

Originally Posted by Douglas

Glenn Hubbard's students let us know that he's not bitter.

Thanks, Douglas! I forwarded it to a few of my colleagues.

Bernanke isn't off to the greatest start. First, he said that the Fed might pause soon, precipitating a selloff in the dollar, then he said in a CNBC interview that his comments were misinterpreted and he didn't wan't to be seen as an inflation dove.

[Douglas]

Originally Posted by Gordon B

Thanks, Douglas! I forwarded it to a few of my colleagues.

Bernanke isn't off to the greatest start. First, he said that the Fed might pause soon, precipitating a selloff in the dollar, then he said in a CNBC interview that his comments were misinterpreted and he didn't wan't to be seen as an inflation dove.

Yeah, I saw that. Surprised. Other than mistake all I could think is that perhaps the Fed is seeing more upside risk than consensus and that the reporting of the conversation wasn't complete.

[walto]

That is absolutely hilarious!