Bye Bernanke

The U.S. Federal Reserve Chairman Ben Bernanke, according to the New York Times, has told close friends that it is unlikely he will want a third term as Chairman of the Fed.

Mitt Romney made it clear that he will not renominate Ben Bernanke. It has become well known that Mitt Romney and Paul Ryan are against the recently established QE3 policy.

“Federal Reserve Chairman Ben Bernanke has told close friends he probably will not stand for a third term at the central bank even if President Barack Obama wins the November 6 election, the New York Times reported.” – Reuters

Bernanke was appointed to run the Federal Reserve by George W. Bush in 2006 and reappointed in 2010 by President Barack Obama.

Bernanke’s predecessor Alan Greenspan was the Federal Reserve’s Chairman for almost 19 years. Bernanke is calling it short at about 8 years when January 31, 2014 comes around. Bernanke has been through a lot with the financial crisis, there is a lot of weight on his shoulders.

Bernanke has declined to comment publicly on this matter and so did the white house.

Romney, if elected, with his business experience and “smaller government” approach could recommend some alternatives when it comes to quantitative easing.

Once we see who wins the Presidential Election, maybe then we can speculate on who the next Federal Reserve Head is. As we know, the Fed Head carries an extreme amount of weight concerning the value of the United States Dollar in the Forex market.

Tomorrow, the FOMC statement for the Fed’s recent meeting will be made public. In my article QE3 or QEternity? I talk about this crucial meeting more extensively.

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