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Federal Reserve

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Economist Anna Schwartz says President Obama shouldn’t reappoint Ben Bernanke as Federal Reserve Chairman. Bernanke has mishandled the financial crisis, argues Schwartz, who co-authored seminal works with Nobel laureate Milton Friedman. “I am certain that there are economists whose reputations for outstanding academic work in monetary policy are every bit as distinguished as Mr. Bernanke’s, and who have good judgment and experience within the Federal Reserve System,” she writes in The New York Times. “President Obama should choose one of them.” Schwartz faults Bernanke for the Fed’s massive easing program.