Take the chalk away before Bernanke hurts someone

maybe it is time to get out of this Keynesian as defined by the right wing nonsense and finally accept monetarist truth. and that is the market is better at deciding the interest rates and that the fed should be there to set a monetary expansion goal and then dissolved. if there is a fear of inflation then the banks will raise interest rates. if the economy is not moving, no loans being made, then the banks will reduce the rates. but the lunacy of trying to raise rates based on what it is going to be like in 12 to 18 months is and has never worked. it is the ultimate short term thinking. you change the rate, three months later there is no effect so you raise it again. but we all know it takes 12 to 18 months to see the change on the macro level. but the feds have only given it 3 months. so before there is any effect, they have made 4 changes to the interest rate. and if they raise it 7 times then by the time they see the effect of the 5th raise as too much and the economy is too slow, it is too late to stop the effects of the other 2 rate raises. it is time to get ride of the fed.

While it is certainly in fashion to bash Bernanke, I think it is wrong headed. Bernanke is simply doing what any fed chairman would be forced to do: fight inflation. Greenspan was simply lucky enough to get out before the bills came due. If you are old enough to remember, Volker was also given to tough talk on inflation; 'jaw-boning' is a classic fed tactic for inflation fighting before the necessity of actually raising interest rates.

Greenspan had a friendly interest rate trend to rely on --for 20 years-- Bernanke will have no such luxury.

i agree completely, the fed is berstupid, but it's another bushy move

First of all, it's DR. Bernanke, not MR. Bernanke. Secondly, while his prior employment history began in academia, he spent many years being Governor of the Fed and then Chairman of the President's Council of Economic Advisors. He is the author of sixteen textbooks in the field of economics and is certainly well qualified to run the Fed. He is brilliant, calm, and resourceful and does not surround himself with "yes" men. Let's give him a chance and I'm betting on Bernanke to give this economy a much-needed boost.

Soon enough everybody will get used to the new chairman and no one would even remember Alan Greenspan.

Oops, I'm sorry I called you a moron when I commented on your Bad rap for bad market story. I guess I over reacted for a moment there,lol. Anyway I think the question we should be asking is why do the markets move so much and are so concerned about a 1/4 point interest rate move? Is our economy so fragile that it can't function with rates at these levels? The facts are we can't continue to have our cake & eat it to, ....Bernanke has to try to save the dollar, save the stock market & and save the real estate market, he can't do all three.

Dr. Bernanke has already been coached, learned and matured in his new role. He will be just fine. Greenspan will not be forgotten for 50 years.