Throwing Punches

Posted by Admin

While it might seem to be a political consideration, politics and business are often directly related–especially as it concerns institutions like the Federal Reserve. This is the Central Bank in the United States, which leverages interest rates for the U.S. Government.

Ben Bernanke has been the chairman of the Federal Reserve, in charge of its actions, over the past couple of years and has been both criticized and praised by politicians for his efforts. However, Ben Bernanke has been under fire since the start of the economic recession last year.

Senator Bunning (R-KY), who is retiring in 2010, threw a parting punch at chairman Bernanke when he used a procedural move to delay Bernanke confirmation in the Senate today. Bunning is, then, slowing the process of confirmation. This could have broad ramifications for the business world, who is effected by the Federal Reserve’s leadership.