On Bernanke’s re-appointment also see my “Judging Bernanke”, Top Gun FP, August 20.
P.S. I don’t know what time this news broke but the front page WSJ story on it has the most typos and poor sentence constructions I’ve ever seen in a WSJ piece. (The article now available on their website has been dramatically edited from the piece in the print edition). Here are some examples:
Hearings on the rescues of firms such as AIG Mr. Bernanke and other Fed officials have generated a level of acrimony that’s unusual for Fed officials.
MY COMMENT: I think we need an “At” at the beginning of the sentence.
Having pumped the economy with hundreds of billions of dollars of cash into the financial system and tried to heal the economy with near zero interest rates, Mr. Bernanke now needs to decide how and when to pull back.
MY COMMENT: What we need here is to get rid of “the economy with” after “Having pumped”. There are also other ways to do this but you can’t have “pumped the economy” AND “into the financial system”. It’s redundant and doesn’t read well.
They also use the same quote by David Kotok twice in the piece and there is a misplaced quote in the second to last paragraph excerpting Bernanke’s Friday Jackson Hole speech.