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Current DateTime: 06:38:09 26 Nov 2009
LinksList Documentid: 28796340

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The Kudlow Report: Kudlow CaucusThe Kudlow Report: Kudlow Caucus - From Washington to Wall Street, Pro-Growth Opinions, Perspectives & Strategies to keep you on the pat to prosperity
WEEKNIGHTS 7P ET
Text Size
Jul.09
2:33 PM ET
Thursday, 9 Jul 2009
Who should President Obama choose to be the next Fed head?

The Kudlow CaucusThe Kudlow Caucus
We asked our panel:

Who should President Obama choose to be the next Fed head?

Bernanake 7
Larry Summers-2
Kevin Warsh-1
Sarah Palin-1
None of the Above-1
Sarah Romer-0
Janet Yellen-0

Watch "Kudlow & Company" tonight at 7pm ET and find out what out caucus members have to say!

     


The Caucus Breakdown


Joe Battipaglia

Ben Bernanke
Joe Battipaglia
Market Strategist, Stifel Nicolaus
While he failed to take pre-emptive actions well ahead of the credit collapse, he has executed an appropriate recovery strategy for the next several years.

Jerry Bowyer

Sarah Palin
Jerry Bowyer
Chief Economist, Benchmark Financial Network
The fed already has more than its share of technocrats. What it needs is someone who has the character to focus on one simple moral principle: a sound dollar.  The rest precisely because of their background will be far more tempted to tinker.

Keith BoykinKeith Boykin

Ben Bernanke
Keith Boykin
Fmr. Clinton White House Aide / The Daily Voice Editor
Although there's still plenty of time for things to change, so far Bernanke seems to have the confidence of the president and seems committed to keeping interest rates low despite premature GOP talk of inflation. As a Republican appointee from the Bush administration, Bernanke helps create bipartisan support for Obama's economic policies. Larry Summers is a good backup, but he definitely should not appoint Sarah Palin.

Vince Farrell

Ben Bernanke
Vince Farrell
Scotsman Capital Management
He has shown the wisdom and initiative to continue to lead. The worst thing would be to appoint someone from the political side of the aisle (Summers or Romer, both of whom work in the White House) as that would show a clear attempt to rob the Fed of its independence. The markets would react very negatively to that.

But then by gosh, by golly, Sarah needs a job and she is as equipped to be the Fed Chair as she was to be VP !

Doug KassDoug Kass

Ben Bernanke
Doug Kass
Presidnt, Seabreeze Partners Management
DONT ROCK THE BOAT!

"So I'd like to know where, you got the notion
Said I'd like to know where, you got the notion
To rock the boat, don't rock the boat baby
Rock the boat, don't tip the boat over
Rock the boat, don't rock the boat baby
Rock the boat."
--
Corporation Hues, Don’t Rock the Boat

From my perch Chairman Bernanke has proven to be the most competent in the previous Bush administration and, quite possibly, among the handful of the most capable in the Obama administration.
A change to someone like (presumably favored candidate) Larry Summers would underscore the growing lack of independence of the Federal Reserve and would jeopardize consumer and business confidence which is already quite fragile.

My advice? Dont rock the boat! And, I'd like to know where the President got the notion!!

Jim Lacamp

Ben Bernanke
Jim LaCamp
Senior VP, Portfolio Manager
Macroportfolio Advisors
Co-Host, Opening Bell Radio Show, Biz Radio Network
We are too far into this to make a change that would certainly create uncertainties that would rattle an already shaky financial system.
Unless you want to throw Volcker in there!     
         

Art Laffer
Larry Summers
Art Laffer
Fmr. Reagan Economic Advisor
Chief Investment Officer, Laffer Investments
God Help America.
Donald Luskin

Kevin Warsh
Donald L. Luskin
Chief Investment Officer, Trend Macrolytics LLC
Not Sarah Palin. Very high babe factor, but not voted most likely to save the world. Larry Summers would no doubt agree with me, given his dim view of women’s career potential.

Ben Bernanke would be a safe choice. He’s done the least bad job of any of the bank regulators. But he bears the Mark of Caen for his complicity in the Fed’s too-easy policy in 2003-2005, which caused the housing and credit bubbles.

Kevin Warsh is the man. Just read his speeches as Fed governor – he totally gets it. And best of all? He’s not an economist. Hard to believe, but he’s a Fed governor with actual market experience.

Steve Moore

None of the Above
Steve Moore
Sr. Economics Writer, The Wall Street Journal Editorial Board
Sorry, but my choice among these five is none of the above.  Bernanke is a Phillips curve guy and hasn't been  a strong critic of the Obama fiscal policy mayhem.  He has to go, but to be replaced with someone who believes in King Dollar. Larry Kudlow or Art Laffer.

James Pethokoukis

Larry Summers
James Pethokoukis
Sr. Writer, U.S. News & World Report (Money & Business)
While he might be portrayed as Obama's stooge at the Fed, Larry Summers would be a fiercely independent voice with academic, government and private sector experience. Plus he is a free trader who understands the value of fiscal responsibility.

Robert Reich

Ben Bernanke
Robert Reich
Former Labor Secretary
Professor of Public Policy, UC Berkeley
He’ll go down in history as one of the most innovative and successful Fed chairs in history.

Lynn TiltonLynn Tilton

Ben Bernanke
Lynn Tilton
CEO, Patriarch Partners
I do not agree with all the decisions aligned to monetary or fiscal policy, nor do I believe that the manipulation of both will ultimately balance and protect this country from inflation. I do argue, however, that a change of leadership and direction at this time could lead to disastrous results for an already very weak economy.



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