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Tuesday, September 1, 2009
Here's a quick follow-up on Rory's assessment of Ben Bernanke's re-appointment as Chairman of the US Federal Reserve: The Economist looks at the challenges facing Bernanke in his second term.
While the technical challenges for the Fed are ongoing, the political aspects of their work are growing in importance. One thing is certain: they face an uphill battle in the public relations department. According to a Gallup poll conducted in July, the Fed's approval rating was about 30% - below the CIA, IRS and Homeland Security. Dan Drezner quips:
When your agency is less popular than the federal institutions responsible for torture..., tax audits, and the requirement that you take your shoes off at the airport, you know you have a public image problem.
Labels: central banking, Paradise Lost