Who will Clark or Dean pick for Federal Reserve after Greenspan?

[WhoCountsTheVotes]

I believe that the Democratic candidate we choose will beat Bush, and we have the best choice of candidates I've seen in my lifetime.

Alan Greenspan is going to retire soon, who should we pick as the next Chair of the Federal Reserve? Should Democrats be supporting a strong dollar or a weak dollar? Does the Fed have any control over the capital markets anymore?

The Democratic party has a long history of progressive monetary policies, from the populist farmers and Jennings to FDR strictly regulating banks and the money supply to Clinton demanding that we cut the deficit and start getting out of debt.

Any ideas for a Federal Reserve Chairman to replace Alan Greenspan?

[stevebreeze]

1. I'm not sure who but many would be a vast improvement

Greenspan has veered far too often into partisan politics. It is not an accident that he started jacking up interest rates 9 months before the election then stated dumping them back down after the selection of *. Anyone with a hint of how economics and politics work together would know this is the best way to weaken an incumbent party before an election. Please ask yourself if there was any reason to fear inflation in early 2000? There was not it looked like tilting at windmills if not for the partisan effect.
:kick:

p.s I agree on your election analisis

[rapier]

2. notes

I'm an agnostic, to say the least, about a Bush loss but it matters not on issues of the Fed. The Dems have no alternative to the ultra activist Fed. None, nada, zilch.

There is absolutely no inkling of any theoretical policy alternatives in the Democratic party, center, right nor left. The progressives are ignorant and don't care. The rest think perhaps we need to tweak or just let well enough alone.

Mainly this is due to the harsh fact that any reigning in of the activist Fed would certainly cause gigantic finacial system problems and undoubtably serious short to intermediate term economic problems and such are political death.

So we muddle along and hope. Hope things dont go to hell.

The most likely new governor is Bernake. The first central banker of all time perhaps who eagerly touts the wonders of printing money and debasing the currency. While others have done it thruout history none has had the stupidity to announce it.

Well, maybe it isn't stupid. The markets, for the most part, loved it. Which is a telling comment on the bizzare nature of our financial system.

[WhoCountsTheVotes]

4. Bernake likes "printing money and debasing the currency"?

He's a consensus candidate for Fed Chair? The WSJ today had a stern lecture about our reserve currency and a warning not to screw with China on monetary matters. If Saudi Arabia and Russia start using Euros for oil transaction could that be a problem for us Americans? I agree, I haven't heard any ideas or policies aside from "let's keep this whole thing from falling apart".

[carpetbagger]

3. There's no lack of Clinton veterans.

Any of the second or third-tier treasury/OMB/CEA folks should do.

[WhoCountsTheVotes]

7. do we want a second or third-tier candidate?

I always though the Fed chair was supposed to be a high ranking well respected person, although I know a few were considered little more than political hacks.

Remember when they used to call him "King Greenspan"?

[wtmusic]

5. Paul Krugman

[HalfManHalfBiscuit]

6. Maria Bartiromo!

Those pillow-like lips. Help me mama!

[arwalden]

8. Why Would President Sharpton Allow Clark or Dean To Make That Selection...

... for him? ;-)

-- Allen

[WhoCountsTheVotes]

9. well then who will President Sharpton choose?

heh, President Al Sharpton, it has a certain ring to it.

[ElsewheresDaughter]

10. Grasso?

;)