I think he has the temperament to deal with his position in a very effective manner. (not to mention the intellect 😉

 The Fed can only do so much and business cycles will exist. Its possible some lose sight of that.

The glass is half empty, or should I say foggy to say the least? Being skeptical of our government and now our public companies, accountants, brokers, SEC Chairman, etc. is a good thing. Its possible many things are hidden under the guise of transparency.

Finally, a point on undesired outcomes should be brought up again as we discuss Sarbanes Oaxley under stock market regulation.

The Fed does have considerable discretion in the event of a disaster to oil the gears of the financial system so to speak.

I have a friend that’s in some Senior VP type position at BofA and his stories of what they did to get the banking system through the crisis were outstanding. Renting trucks, giving credit, clearing payments, etc. Lots to do in a short amount of time and none of it could have been done without the Fed accommodations.

My Take: There’s some pretty competent people in this branch of the government.