Should Barack Obama or Mitt Romney, whomever is President, reappoint Ben Bernanke as Fed chairman?
I would say no. His policy of quantitative easing is a failure, but also dangerous. Even with interest rates being nonexistent, banks are barely lending because of the overload of debt in the economy. Promoting more private debt is therefore not the answer. Unfortunately, we now have a mountain of a monetary base ready to be released into the economy, if and when times get better. The bond bubble will not be pretty.