Is Federal Reserve Chairman Bernanke Campaigning for Re-election (Reappointment)?

Posted by Bill Rice
July 27, 2009
Ben Bernanke, chairman of the Board of Governo...
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I would have to agree with a few of these sources–Chairman Bernanke is off and running on his reappointment campaign.

Washington Post: Televised townhall meeting in Kansas? That was the unusual format for PBS’ Jim Lehrer special with Chairman Ben Bernanke:

Using atypically folksy language, Bernanke explained why he thinks the central bank responded appropriately to the financial crisis.

“I was not going to be the Federal Reserve chairman who presided over the second Great Depression,” he said, defending the bailout of American International Group and other large financial firms. “I had to hold my nose and stop those firms from failing. I am as disgusted about it as you are.”

Mish’s Global Economic Trends: In classic Mish style–he pulls few punches. Calls 60 Minutes interview “creampuff” and wraps in Former New York Attorney General, Eliot Spitzer’s Fed “Ponzi Scheme” comment:

The Fed’s media blitz started in March as noted by a Cream Puff Interview With Bernanke On 60 Minutes.

Bernanke stepped up his advertising campaign this weekend in a town hall meeting on public TV. The show will air this week in three installments on PBS’ “The NewsHour with Jim Lehrer.”

The Business Insider: Bernanke grabs three high profile “news hour” spots with his PBS special with Jim Lehrer. The Insider calls it a 3-Night Infomercial:

Last night Bernanke recorded a special with PBS’ Jim Lehrer, which will be shown tonight, tomorrow, and Wednesday during the news hour. As Barry Ritholtz observes, this is his re-election campaign, and he’s taking it straight out of the Obama playbook (well, sort of. Obama bought his infomercial, but it probably wouldn’t be appropriate for Bernanke to do that).

More Coverage of the Bernanke Reappointment Campaign:

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  • So what do you think Bill? Does he have a good shot at reappointment?

    We've wrote before that's it's likely Obama will keep him around (basically for the market's sake -- especially now since they're doing better).

    The biggest question is "does he deserve it?" In my mind a lot will depend on the Fed's upcoming exit strategy -- that could be a make or break scenario.

    Nice post,
    Tim
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