Just coming thru on the Reuters newswires, Obama to re-appoint Ben Bernanke as Chairman of the Fewderal Reserve on Tuesday. Obama said he praises Bernanke for his bold action in dealing with the financial crisis.
In remarks prepared for delivery at an event in Massachusetts, Obama willalso say the US auto industry is showing signs of life and the US credit and housing markets have been saved from collapse.
Even though this is not a great surprise, the markets will see it as reassuring. It could be seen as supportive for risk.
