McCain vs Bernanke

Bernanke seems to be a bit of a loose cannon when comes to following the Bush/McCain economic message. Back in January while Bush and McCain were extolling on the “strong fundamentals” of the economy, Bernanke was privately painting a much bleaker picture. Then, when many Republican supply-siders were pushing for an extension of the Bush tax cuts as part of an “economic stimulus”, Bernanke for all intents and purposes slammed that approach and put his “seal of approval” on a more Keynesian approach favored by the Dems (guess which one eventually won out). Now we have McCain again this week saying “the fundamentals of our economy are strong.” Well, it appears Bernanke again missed the memo, as in his comments at the Fed symposium today he said the current economic crisis “has not yet subsided,” creating “one of the most challenging economic and policy environments in memory.”

Any bets on if McCain wins the White House that Bernanke will be job shopping in 2010 when his term is up? After all, you can’t keep around a Fed Chief who seems to sound more like your opponent than he does you, right?

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Jeremy Hinton