Romney Pledge To Fire Bernanke Causing Fear Of Markets Tumbling On Wall Street
Mitt Romney’s promise to fire the chairman of the Federal Reserve, is causing Wall Street anxiety.
Romney, throughout his White House campaign, has argued he knows what needs to be done to get the economy running at full steam.
But the concern among market watchers is that if Romney dumps Bernanke, whose term expires at the beginning of 2014, he would remove the person who some believe is the weak economy’s primary lifeline.
“There’s a view that the economy cannot sustain itself, that it’s really the Fed that is fueling economic growth, and that a post-Bernanke Fed is just not as favorable to growth,” said Brian Gardner, senior vice president of Washington research at Keefe, Bruyette and Woods.