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Will Bernanke Come to Obama’s Rescue?

The Federal Reserve is eying new steps to boost the economy, and the timing of the move could determine whether President Obama gets a badly needed boost himself.

The Fed meets next week, and according to the New York Times, some officials are pressing for immediate action.

Romney's going to fire me?

With nothing significant expected to come out of Congress this year and with Europe in decline, the Fed meeting could be the last chance for anyone to inject some life into the economy before Election Day. If the Fed waits until its next scheduled meeting in September, the effect on the economy might not become apparent in time to do much good for the president.

Testifying before Congress last week, Bernanke said among the options the Fed is considering another round of “quantitative easing” to bring long term interest rates further down. Some are skeptical about how much good this would do, but Bernanke appears to think it could have a substantive effect.

Bernanke said the economy is slowing, a dreadful circumstance for a president during his reelection year, and unemployment is expected to remain at about its current level of 8.2 percent through Election Day.

Anything to that might perk the economy up enough to show light at the end of the tunnel could be invaluable to Obama. What’s more, a move by the Fed could help avert a catastrophe like a stock selloff, which could be the death knell for the Obama campaign.

And Bernanke’s own job could be at stake. In the heat of the GOP primaries Bernanke became a Republican punching bag, and Mitt Romney was among those who took the pledge to fire him.

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17 Responses to Will Bernanke Come to Obama’s Rescue?

  1. Bernanke is toast.
    Romney will win the election.
    I remember that every one of the candidates during the debates said that they would fire Bernanke.
    Turbo tax Timmy is also gone.
    If Bernanke institutes another Fed bailout before the election, the intelligent. aware American People will finally find their stride and send this regime to the dustbin of history.
    We are about 100 days out.
    That’s enough time for Obama to continue to convince the intelligent voter that his re-election will destroy this Country.

    America is awake, watching and listening.
    The likes of Obama cannot destroy this Great Nation.

  2. I thouhgt the Fed chairman was supposed to be nonpartisan correct?

    Weakening an already weak dollar is the last thing the Fed should be doing. We’ll be paying the price for this so called quantitative easing for decades.

    • The Fed Chairman is non-partisan with a Chicago style regime in power ?
      Turbo tax Timmy is on the floor of congress this week lying through his teeth to a bunch of political hacks that want to keep their jobs.
      Do you think that he is non-partisan also ?

      Obama is determined to take this country down to the level of the rest of the world.
      Weakening the dollar is just another poke to the ribs of America.

  3. How much more can the interest rates be reduced? As it is now our savings earn practically nothing in the way of interest. My fear is that another round of printing money might just be the one to push us over the cliff.

    Will printing more money reduce our energy prices? Will grocery prices be lowered? Will businesses suddenly start hiring? The answer is NO, NO, and NO. Uncle Ben can give the addicts on Wall Street another fix, but it won’t make a bit of difference to us little people out in flyover country…

      • You’re right, but I didn’t say anything about raising interest rates. I was complaining about my retirement savings. Might as well stuff all the cash in jars and bury it in the back yard….

  4. “Bernanke said the economy is slowing….”

    SLOWING … NOT. It’s at full stop. If the economy is the heartbeat of a nation, I’d say it was in full cardiac arrest. The drought in the midwest, the low water levels of the Mississippi are affecting shipping [read: cost of everything], housing market is in terrible dire straits, the price of gas is going up (again). No problem, there’s always lots of money for useless solar projects, another Jon Corzine and friends of the “inner circle” and the preezy just keeps fundraising. No fireside chats from the WH, no vision, no plan and G-d help us – NObama by January 2013.

  5. Ubama already got the help of another un-elected government official in the form of John Roberts “finding” constitutional justification for compelling engage in commerce, whether they want to or not. Why wouldn’t one expect Ubama to get help from Bernanke to just print more money? I mean, if QE1 and QE2 didn’t work, what’s to suggest that QE3 won’t finally do the trick. After all, it’s just money that THEY won’t need to pay back – that settlement will happen long after they’re gone and it will fall on future generations.

    To quote that great philosophical rock group, AC/DC:

    So don’t worry about tomorrow
    Take it today
    Forget about the check
    We’ll get Hell to pay

    Indeed

  6. not so much to Obama’s rescue, as to attempt to soften the ongoing effects of the worsening European financial crisis, and China’s slowdown, on our United States, through diluting the value of our dollar … this would, and will be the case, regardless of who is president … this began under Bush, and now, despite $4 trillion being pumped into our economy, it has done little to stave off the inevitable .. that being a world crisis … time to stop focusing on “superficial growth with the next fad” and “wars in other countries that we shouldn’t be fighting” and begin focusing on solidifying our very frail, faltering, and rapidly failing, infrastructure … it’s time for all of us to batten down the hatches and prepare for virtually guaranteed very tough times directly ahead. Romney’s push towards, increasing defense spending, and lowering taxes on the wealthy, and Obama’s undermining our economy, and workforce, by encouraging a continuing invasion from the South, gutting welfare reform, while ignoring the rampant fraud in all government entitlements, and literally throwing giving money away on clean energy attempts, are all prescriptions for disaster.

  7. MY QUESTION STANDS:
    Has “Barack Hussein Obama” Ever “Taken/Passed” a College Level “Economics” class? (@ Columbia or Harvard?)

    Where has Obama ‘learned’ his knowledge about the US Economy…?

    I am curious since Barack Hussein Obama has “never” had a “real job = $” in his life…

  8. Helicopter Ben sold his soul to the devil – the Fed is now just another branch of the Executive office. Just as he waited until 6 months before the election to give ‘amnesty’ and work permits to millions of illegals, he told Ben to warm up the printing presses for a quick fix before the election. This was so predictable!

    You can lead a horse to water, but…yada yada. Interest rates are practically zero – but no one is borrowing and the banks aren’t lending. Cosumers are trying desperately to pay down their debt…and banks aren’t willing to lend for such pittances.

    Keep printing and we’ll end up like the Republic of Weimar!

  9. The sad thing is some one some day is going to pay for all this free money .It would be nice to see Obama strung up with a long bond north of 10% but by that time he’s already writing his 4th autobiography .It would be terribly ‘unfair ‘ were Romney to deal w/ that, but hey life sux,get over it.. But as to Bernancke , he’ll go down w/ Arthur Burns as chairs who just lacked the horses for the job , And BTW , the goat will be as ludicrous as Burnsies’ pipe when they get done w/ him if there were another Bray Hammond out there .

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