2006-08-06 21:31:58 · 5 answers · asked by kingers332002 3 in Business & Finance ➔ Credit
Ben Bernanke is now the most powerful person in the world.
The stock markets wait in hopeful anticipation on what he decides to do with interest rates.
Interest rates govern direction of money.
Huge amounts of money always seek the best opportunities, but the interest rates decide just how much money will move around.
Ben Bernanke doesn't do it all himself. He is Chairman of the Federal Reserve which came into existence in 1913. There are twelve board members.
Just how and why the Federal Reserve came into being is something I've been intrigued to learn. Seems like politicians met on a secret Island and voted to have this government agency installed. Are we better off for it, or worse off?
Amazing how things get voted in when people are sleeping.
Every economic issue takes back burner now to what the guess is that the Federal Reserve will do next. The talk of the day has been about interest rates, and all economists argue the issue over and over, with nobody having a definitive answer.
This discussion has been going on for just about as long as Ben Bernanke has been Chairman.
Will he follow Alan Greenspan's policy, or be different?
The jury is still out.
Any further rate hikes could cripple the American economy and that has global impact.
Ben has his work cut out for him. He walks a tightrope.
2006-08-06 21:50:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The current chairman is Ben Bernanke, who was appointed by George W. Bush and sworn into office in February, 2006 for a term lasting until 2010. Although, he is appointed until 2010, he may be there considerably longer. Alan Greenspan was the Chairman of the U.S. Federal Reserve Board of Governors for 18 years. Who knew?
2006-08-06 21:57:40 · answer #2 · answered by Raylene 3 · 0⤊ 0⤋
Ben Bernanke (February 1, 2006 – )
2006-08-06 21:38:25 · answer #3 · answered by cloud 4 · 0⤊ 0⤋
New Federal Reserve Chairman is Ben Bernanke.
Has been there for several months now.
2006-08-06 21:37:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You must of missed the big event. Ben Bernake. However this economical genius still seems to believe inflation is due to comsumer borrowing. Maybe he has a expense account that pays his gasoline. Americans are going to need gas cards that draw off the home equity to get by.
2006-08-07 04:06:41 · answer #5 · answered by Jacque w 3 · 0⤊ 0⤋