It may be that a Republican has won in Massachusetts. Even so, it may be imperative to reappoint Mr Bernanke as Chairman of the US Fed Reserve because alternative candidates are worse qualified for this position. (This reeks of the old adage, “a known devil is better than an unknown angel”.)
Better stated… ‘Better the devil you know, than the devil you don’t know’! In the context of the current state of the economy we fear that those ‘other’ candidates may actually end up ‘strengthening the hands of the inflation hawks’, causing more damage over the long run.
Financial reform and unemployment are the two prime concerns for the US economy today. If re-appointed, Mr. Bernanke, along with his team, must focus on obliterating mass unemployment; and together, they will need to objectively review their own failed policy decisions of their first term. Immediate corrective action is imperative, since it will impact American lives for years to follow.
This, in a nutshell, is how Mr Paul Krugman surmised the present situation.