The reappointment today of Federal Reserve Chairman Bernanke by President Obama is clearly good news, for the country and the worldwide financial markets.
While some of his decisions can be criticized, Bernanke has shown decisiveness and creative thinking in trying to deal with the unprecedented financial challenges of the past 2 years. His background and studying of the Great Depression has proved to be fortunate for the country, as this valuable learning of prior historical lessons has been the foundation for his policy making.
A change in Fed leadership at this time would have clearly been detrimental to the financial markets, at least in short run. Bernanke has well earned the continuity of a second term and it provides for stability in the leadership of the financial markets, which is of utmost importance.