Dear Americans, you may not know what the Fed Chief does, and you have no say in who gets that job, but Ben Bernanke, whose term expires early next year wants you to like him — and hopefully, if you like him, Obama will reappoint him, rather than replace him with Larry Summers.
Last night Bernanke recorded a special with PBS’ Jim Lehrer, which will be shown tonight, tomorrow, and Wednesday during the news hour. As Barry Ritholtz observes, this is his re-election campaign, and he’s taking it straight out of the Obama playbook (well, sort of. Obama bought his infomercial, but it probably wouldn’t be appropriate for Bernanke to do that).
If you just want to hear what he said, you won’t need to watch it, as everything will come out today. So far we know that he talked about the fact that the unemployment rate will remain elevated for some time, but that he’s done everything in his power to avoid the great depression.
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