Dollars and Jens
Saturday, October 08, 2005
Greenspan's successor
I'm inexplicably thrilled to see Bob McTeer mentioned as a possible chairman of the Federal Reserve; I typically haven't seen his name on these lists. I think he'd be a lot like Greenspan, though probably a bit more market-driven, and slightly less — well, central-banker-like.

John Taylor, who was an Undersecretary of the Treasury but I believe no longer is, is another dark-horse possibility that would give me an inexplicable warm, fuzzy feeling.

I keep using the word "inexplicable" to leave derelict any responsibility for arguing in favor of these choices.

Update:Tradesports has both McTeer and Taylor as options, but offered at 3 and 2 respectively. The traders are pretty much looking at Bernanke as being twice as likely as Lindsay, Feldstein, or Hubbard, and nobody else above 10.

The next guy, though, is a fellow I hadn't heard of named Manuel Johnson. He was vice chairman at the Federal Reserve — and would become the first person ever to have that on his resume and get the job of chairman — after working in Treasury under Reagan. More recently he was chairman of the Financial Accounting Foundation.

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