WASHINGTON — Ronald Reagan once said the scariest words to an American were, “I’m from the government and I’m here to help”. That same fear may grip Americans as it is President Barack Obama’s turn to handpick the replacement for the Federal Reserve chairman.
Ben Bernanke’s term is coming to a close in January 2014 when he is expected to step down after two terms as the Federal Reserve’s chairman. Bernanke, who was a student of the Great Depression, could not stop the Great Recession when push came to shove.
Reuters reports that Obama most likely will pick a candidate that he is familiar with, which echoes many of his past appointments such as Susan Rice as his national security advisor.
Some considered Rice’s appointment as an embarrassment and slap in the face for the Benghazi victims’ families.
Now the choice is at the feet of Obama, who will he choose? Timothy Geithner, who helped Bernanke worsen the crisis? Or other similar choices?