Bernanke's Low-Rate Fed Future Is SecureBy
It's remarkable, really. The Federal Reserve is holding short-term interest rates at the lowest levels in history—just zero to 0.25%. Critics argue these ultralow rates will trigger a dollar crisis or fuel a new round of foolish lending and financial speculation that will end once again in tears. Yet the engineer of these low rates, Fed Chairman Ben Bernanke, has managed to retain the confidence of the financial markets and fellow monetary policymakers. And on Aug. 25, President Barack Obama said he will nominate Bernanke for another four-year term as chairman, which would keep him at the helm until January 2014.
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