On the recordJanuary 28, 2010
Let me go ahead. I will assume we will probably wrap up the debate with 3 minutes remaining. We have a diversity of opinions, including from Paul Krugman, who is known as a more progressive economist, in favor of this nomination, although and albeit he has certain caveats he expressed about the nominee, Ben Bernanke; the Washington Post; and others as well. Warren Buffett was asked on CNBC about this nomination and he said: All I can say is, if you are going to turn him down, let me know a day or two in advance because I would like to sell off some stock. They asked him why, and he said because he believed the message to the markets would be a devastating one. The one thing about the Federal Reserve--and there are legitimate complaints about the Federal Reserve System--but what we don't need is for short-term politics to become the vehicle by which we decide Fed policy. The independence of the Fed has been a critical component for stability in our economy.
