[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Utopian Visionaries Who Won’t Leave People Alone

No - no - no Ain'T going To get away with iT

Pete Buttplug's Butt Plugger Trying to Turn Kids into Faggots

Mark Levin: I'm sick and tired of these attacks

Questioning the Big Bang

James Webb Data Contradicts the Big Bang

Pssst! Don't tell the creationists, but scientists don't have a clue how life began

A fine romance: how humans and chimps just couldn't let go

Early humans had sex with chimps

O’Keefe dons bulletproof vest to extract undercover journalist from NGO camp.

Biblical Contradictions (Alleged)

Catholic Church Praising Lucifer

Raising the Knife

One Of The HARDEST Videos I Had To Make..

Houthi rebels' attack severely damages a Belize-flagged ship in key strait leading to the Red Sea (British Ship)

Chinese Illegal Alien. I'm here for the moneuy

Red Tides Plague Gulf Beaches

Tucker Carlson calls out Nikki Haley, Ben Shapiro, and every other person calling for war:

{Are there 7 Deadly Sins?} I’ve heard people refer to the “7 Deadly Sins,” but I haven’t been able to find that sort of list in Scripture.

Abomination of Desolation | THEORY, BIBLE STUDY

Bible Help

Libertysflame Database Updated

Crush EVERYONE with the Alien Gambit!

Vladimir Putin tells Tucker Carlson US should stop arming Ukraine to end war

Putin hints Moscow and Washington in back-channel talks in revealing Tucker Carlson interview

Trump accuses Fulton County DA Fani Willis of lying in court response to Roman's motion

Mandatory anti-white racism at Disney.

Iceland Volcano Erupts For Third Time In 2 Months, State Of Emergency Declared

Tucker Carlson Interview with Vladamir Putin

How will Ar Mageddon / WW III End?

What on EARTH is going on in Acts 16:11? New Discovery!

2023 Hottest in over 120 Million Years

2024 and beyond in prophecy

Questions

This Speech Just Broke the Internet

This AMAZING Math Formula Will Teach You About God!

The GOSPEL of the ALIENS | Fallen Angels | Giants | Anunnaki

The IMAGE of the BEAST Revealed (REV 13) - WARNING: Not for Everyone

WEF Calls for AI to Replace Voters: ‘Why Do We Need Elections?’

The OCCULT Burger king EXPOSED

PANERA BREAD Antichrist message EXPOSED

The OCCULT Cheesecake Factory EXPOSED

Satanist And Witches Encounter The Cross

History and Beliefs of the Waldensians

Rome’s Persecution of the Bible

Evolutionists, You’ve Been Caught Lying About Fossils

Raw Streets of NYC Migrant Crisis that they don't show on Tv

Meet DarkBERT - AI Model Trained On DARK WEB

[NEW!] Jaw-dropping 666 Discovery Utterly Proves the King James Bible is God's Preserved Word

ALERT!!! THE MOST IMPORTANT INFORMATION WILL SOON BE POSTED HERE


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Romney’S Plan To Dump Bernanke Sparking Anxiety On Wall Street
Source: The Hill
URL Source: http://thehill.com/blogs/on-the-mon ... -sparks-anxiety-on-wall-street
Published: Oct 15, 2012
Author: Peter Schroeder
Post Date: 2012-10-15 13:58:20 by Brian S
Keywords: None
Views: 898
Comments: 1

Mitt Romney’s promise to replace Federal Reserve Chairman Ben Bernanke if elected president is stirring anxiety among some financial analysts — who fear such a move could send the nation’s markets tumbling.

Romney, throughout his White House campaign, has argued he knows what needs to be done to get the economy running at full steam.

But the concern among market watchers is that if Romney dumps Bernanke, whose term expires at the beginning of 2014, he would remove the person who some believe is the weak economy's primary lifeline.

"There's a view that the economy cannot sustain itself, that it's really the Fed that is fueling economic growth, and that a post-Bernanke Fed is just not as favorable to growth," said Brian Gardner, senior vice president of Washington research at Keefe, Bruyette and Woods.

Gardner wrote in a note to clients Thursday that a Romney win could lead to a market decline, operating on the premise that Bernanke’s vow of long-term economic stimulus would then be short-lived.

The Fed chairman has not won any friends among Republicans for his efforts to boost the economy, which have included three rounds of "quantitative easing."

The massive bond purchases have sent stock markets soaring, but conservatives fret that the Fed's rapidly-expanding portfolio is going to be a nightmare to unwind and could result in severe inflation.

Bernanke's Fed agreed in September to buy $40 billion of mortgage bonds a month, and to continue doing so even after the labor market picks up the pace.

The Fed has also stated it expects to keep interest rates near zero until mid-2015.

But a Romney win could throw those plans into question, and signal to markets that the days of easy money are dwindling.

There are several variables still at play, however.

Even if Romney wins and replaces Bernanke, he will only do so at the beginning of 2014. By then, the economy could be in much better shape.

Furthermore, replacing Bernanke does not automatically alter the trajectory of the Fed, since it sets policy based on the votes of the 12 members of the Federal Open Market Committee (FOMC).

The seven Fed governors are joined by a rotating group of five heads of the regional Fed banks.

The current members of the FOMC approved the latest round of “quantitative easing” by a vote of 11-1, so any Romney replacement as Fed chairman would have some convincing to do to change course.

Romney and Republicans have accused President Obama of stifling economic growth with broad new regulatory initiatives like the Dodd-Frank financial reform law.

Romney even suggested to donors that markets would be immediately relieved if he were to succeed in his bid for the White House.

"If it looks like I'm going to win, the markets will be happy. If it looks like the president's going to win, the markets should not be terribly happy," Romney told donors at a private fundraiser in May.

"My own view is, if we win on November 6th there will be a great deal of optimism about the future of this country. We'll see capital come back, and we'll see — without actually doing anything — we'll actually get a boost in the economy."

The secretly-recorded video was obtained and published by Mother Jones magazine in September.

Romney has not been as critical of Bernanke’s actions as some of his GOP compatriots, but he has publicly vowed to replace him at the first opportunity.

"I would like to select ... a new person to that chairman position, someone who shared my economic views, someone that I thought was sympathetic to the needs of our nation," Romney told Fox Business in August.

But Gardner pointed out that roughly a week after Romney boosted his candidacy with a strong showing in the first presidential debate, financial markets have not been exuberant.

Instead, the Dow Jones Industrial Average has lost over 300 points, or nearly 1.5 percent.

"We had a pretty clear sign last week that Romney's in a better position, and markets should have rallied on that. But they sold off instead," he said.

Andrew Busch of BMO Capital Markets, who advised John McCain during his 2008 presidential campaign, acknowledged that a change at the top of the Fed could create some volatility. But he maintained that Romney would still be a net plus for financial markets.

“When they were talking about replacing [Former Fed Chairman Alan] Greenspan, the market’s reaction for a couple of days was pretty negative. It stabilized, and then we came back,” he said.

Rather, Romney’s vows to overhaul the individual and corporate tax codes would dwarf any concern at the Fed, according to Busch.

“They really like his tax plan, and that’s the key,” he said. “Whatever you think is going to happen with the Fed will likely be outweighed by the coming tax reform that’s going to be done under Romney.” Subscribe to *Elections 2012*

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Brian S (#0)

Mitt Romney’s promise to replace Federal Reserve Chairman Ben Bernanke if elected president is stirring anxiety among some financial analysts — who fear such a move could send the nation’s markets tumbling.

There's no need to worry, by 2014 Romney will have sold off the US to the highest bidders anyway.

Almost every country in the Middle East is awash in oil, and we have to side with the one that has nothing but joos. Goddamn, that was good thinkin'. Esso posted on 2012-01-13 7:37:56 ET

mininggold  posted on  2012-10-15   14:21:58 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com