Stepping On The Budget News

by Patrick Appel

There is lots of commentary on the unsurprising news that Obama is reappointing Ben Bernanke, but less explanation why Obama needed to do this months before the Fed Chairman's term is up. Building off a post by Tim Fernholz, Ezra Klein takes a stab at it:

[T]he OMB is coming out with big deficit numbers today, which could rattle the markets and be used as a cudgel against health-care reform. To prevent that, the White House scheduled the Bernanke announcement for the same day. Fed chairmen may be insulated from politics, but the people who choose them sure aren't.