Friday, January 22, 2010
Bernanke vote shakier as more Democrats defect
If Bernanke fails to win confirmation for a second term it would probably signal the end of the policy of Quantitative Easing, which Bernanke has championed. Mny lawmakers feel he has contributed to the "debasement" of the currency and is sowing the seeds for future hyperinflation. (All nonsense, but they see it through the prism of their beliefs.) Hence, Bernake's departure would almost certainly be very bullish for the dollar.