Bernanke and his Bold Decisions!

In nominating Bernanke last week, When president Obama nominating the 2^nd time Mr. Ben Bernanke as the Fed chairman he was so confident that he got the right man who can save our country form the financial disaster! President Barack Obama praised the Fed chairman for his “bold action and out-of-the-box thinking,” saying it had helped avoiding a repeat of the Great Depression, because the bold actions of Bernanke, lending hundreds of billions of dollars to banks and businesses, slashing overnight interest rates to nearly zero, having the Fed almost single-handedly finance the mortgage market will have to be reversed or rolled back over the next few years. There is a possibility that if the Fed shifts too quickly from the role of savior to that of strict disciplinarian, it risks aborting the recovery and tipping the nation back into a recession, essentially repeating mistakes made in 1937 when the economy had begun to rebound. If the Fed moves too slowly, it risks the kind of intractable inflation it experienced in the 1970s and fueling another bubble.

For the first time in almost 20 years, the Fed may soon have to make unpopular decisions like the decision to raise the cost of borrowing even when the economy still feels weak. It has already decided it must at some point next year, the Fed may well need to raise interest rates possibly rapidly and sharply, given how far it cut them last year and in the process raising the cost of things like’s credit cards, mortgages and business loans. Now, its Bernanke responsibility that how well he tackles with these problems and provides the nation, best possible and positive results!

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