Bernanke out Soon

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Obama “essentially fired” Bernanke the other day on the Charlie Rose show, saying, more or less, that Bernanke has been around too long.

This means a lot for the gossiping cocktail-party crowds in DC and NYC but it means nothing for the bigger picture.

David Stockman, in his interview with me for the upcoming July edition of The Free Market (available in early July), notes that there is no reason to believe there will be any real changes in Fed policy. Bernanke is out? The just probably means Janet Yellen is in. It will be more of the same.

12:07 pm on June 19, 2013