Yesterday Ben Bernanke compared slower bond purchases to a car easing up on the gas rather than applying the brakes. I’d prefer to use a plane analogy. Bernanke has jumped, deployed his chute and is floating safely back to earth. He’s had enough. The only problem is we’re stuck in the plane. USA Today on Bernanke’s possible departure:
President Obama let slip this week that he may not be inclined to dissuade Federal Reserve Chairman Ben Bernanke from stepping down when his term ends in January.
In an interview with talk show host Charlie Rose, Obama compared Bernanke to departing FBI Director Robert Mueller, saying, “He’s already stayed a lot longer than he wanted or he was supposed to.”
In the interview, which aired Monday, Obama said Bernanke “has been an outstanding partner along with the White House, in helping us recover much stronger than, for example, our European partners, from what could have been an economic crisis of epic proportions.”