9:56 a.m. EDT April 23, 2013
Some economists are betting that Janet Yellen, the Fed’s vice chair and widely considered the top contender for Bernanke’s job, will be the keynote speaker at this year’s symposium, which is sponsored annually by the Fed’s Kansas City bank district.
Such an appearance “would just confirm her front-runner status,” said Zach Pandl, an economist at Columbia Management, an asset management firm, adding that President Obama could choose the Jackson Hole conference to nominate Yellen, 66, for Bernanke’s post.
Of course, that assumes Bernanke has told the president he’s ready to leave the Fed and that Obama has decided he wants Yellen to succeed him. Formerly the president of the San Francisco Fed bank district, Yellen has been a vocal supporter of Bernanke’s ultralow-interest rate policies.
Bernanke has been the marquee speaker at Jackson Hole every year since he became Fed chairman in 2006, succeeding Alan Greenspan. At the 2005 conference, numerous speeches hailed — prematurely it turned out — the policy achievements of Greenspan, who was preparing to end 18 years at the helm of the Fed. Just over two years later, a global financial crisis pushed the USA into the worst recession since the Great Depression.
In 2010, Bernanke used the podium at Jackson Hole for a speech widely viewed as a signal that the Fed stood ready to launch an additional round of government bond buying to help stimulate the economy. Stock prices jumped in response. Two months later, the Fed announced plans to launch what would become known as “QE2,” its second round of quantitative easing.
Talk of Bernanke’s reluctance to be nominated for a third term at the Fed has been circulating for months. Two-thirds of 46 top economists USA TODAY surveyed in early February said they expected Bernanke to leave by the end of his current term.
Asked at a news conference in March about his plans, Bernanke said, “I don’t think that I’m the only person in the world who can manage the exit” from the Fed’s record-low-rate policies and $3 trillion in bond holdings.
Bernanke, who taught economics at Princeton University before he was Fed chief, was referring to the central bank’s multi-year effort to kickstart job creation and economic growth after the 2008 financial meltdown and subsequent recession. The Fed vastly expanded its portfolio of securities through bond purchases intended to keep interest rates low to encourage borrowing, spending and investing.
Bernanke testified on Capitol Hill in February before a Senate panel, and the typically circumspect Fed chief flashed impatience over criticism that the Fed under his leadership has escalated the risk of high inflation. Responding to a question from Sen. Bob Corker, a Tennessee Republican, Bernanke said, “None of the things you said are accurate.”
“He didn’t sound like someone who wanted to stick around in the job much longer,” says Tim Duy, an economics professor at the University of Oregon and author of the FedWatch blog.
Ben Bernanke was born on December 13th, 1953 according to http://en.wikipedia.org/wiki/Ben_bernanke
December 13th, 1953
12 + 13 +2+0+1+2 = 30 = his personal year (from December 13th, 2012 to December 12th, 2013) = Fundamentally unsatisfied.
30 year + 5 (May) = 35 = his personal month (from May 13th, 2013 to June 12th, 2013) = I quit.
[So don’t be surprised if he resigns during his 35 month].
using the number/letter grid:
1 2 3 4 5 6 7 8 9
A B C D E F G H I
J K L M N O P Q R
S T U V W X Y Z
A = 1 J = 1 S = 1
B = 2 K = 2 T = 2
C = 3 L = 3 U = 3
D = 4 M = 4 V = 4
E = 5 N = 5 W = 5
F = 6 O = 6 X = 6
G = 7 P = 7 Y = 7
H = 8 Q = 8 Z = 8
I = 9 R = 9
255 25951525 41
his path of destiny = Israel. Being rejected. Feeling like no one loves him.
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