There is a rumor that Obama is leaning toward nominating Donald Kohn to lead the Fed. With the drama in Washington trending toward ‘boring’ it’s a good time to change the channels. Yellen was supposed to speak on Friday but cancelled the talk and the thinking was that it was because it conflicted with the appointment. Well, Friday came and went and there was no appiontment. The reason is probably the debt/budget fiasco but it raises some questions.
The thing is, it’s not even a rumor. A lot of people are passing it around without knowing where it came from. The source is Forbes, which is stoking the fires with a ridiculous leap of interpretation from an Obama interview four days ago.
“They’re going to be keeping an eye on inflation, they’re going to be making sure that they are not encouraging some of the bubbles we have seen in our economy that have resulted in busts,” Obama said of the nominee. He then went on to say that the pursuit of policies to encourage job growth was important as well.
From this, the author believes Obama signaled Kohn because it focuses on bubbles and inflation control.
