Sunday, August 09, 2009

Krugman: Reappoint Bernanke

by Bill McBride on 8/09/2009 05:53:00 PM

From Bloomberg: Bernanke Should Be Appointed to a Second Term, Krugman Says

“He’s earned the right to a second term,” [Princeton University Economist Paul Krugman] ... said yesterday in an interview in Kuala Lumpur. “He turned the Fed into the financial intermediary of last resort. When the banking system failed to deliver capital where it was needed, he put the Fed into the markets.”
...
“I think Bernanke has done a really good job,” Krugman said. “He failed to see this coming and he was behind the curve in early phases. But he’s been really very good in the sense that it’s really very hard to see how anyone could have done more to stem this crisis.”
Stiglitz is unsure: Stiglitz Says U.S. Facing a ‘Very Slow’ Recovery From Recession
When asked whether Bernanke should be reappointed so he can remain Fed chief after his current term expires Jan. 31, Stiglitz replied: “That’s a hard question.” A replacement is “something we ought to consider,” he said.
And more from a couple of weeks ago: The Bernanke Reappointment Tour (Roubini says yes, Thoma says yes, and I'm uncertain).