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Bernanke , who was named Chairman of the President's Council of Economic Advisers after serving on the Fed's board of governors for three years, believes in a predictable approach to fighting inflation. Greenspan, in contrast, is a connoisseur of esoteric statistics and counts on the freedom to weigh them however he deems wise at the moment...
...Bernanke's view, to lessen the possibility of a surprise that could create panic, it is paramount that financial markets understand what the Fed is doing. Although he believes in balancing formulas and judgment calls, Bernanke has argued for picking a target rate for inflation and making clear that the Fed would cut interest rates when inflation fell below the target and raise them when it pushed above. Bernanke's presumed target: about 3% for the Consumer Price Index...
Greenspan believed targets would box him in. For example: if inflation markers were in place now, the Fed might be raising rates more quickly since hurricane damage on the Gulf Coast caused fuel prices to spike. Greenspan's approach allows him to factor in how long oil production may be curbed and what will happen when prices recede...
...their itty bitty little plastic house which would fold up into some sort of little girl shape and take up a wallet-sized amount of your living space. Sadly, since companies don’t trust children of any age not to ingest everything they own, Polly was fed some growth hormones. The new genetically engineered playmate is 9 cm. high and because pockets aren’t going to cut it, you can buy a pretty Polly purse for travel, thus negating all of Polly’s appeal.The look of a character is destined to change, it?...
Wielding economic influence that touches the lives of most of the world’s nearly six-and-a-half billion people, the chairman of the Federal Reserve Board of Governors (Fed) is frequently said to be second only to the President of the United States in power. It is no understatement to say that President Bush’s appointment of Alan Greenspan’s successor was one of the most consequential decisions of his presidency. Given the array of possibilities, we are surprisingly satisfied with Bush’s latest appointment of Ben S. Bernanke...