Abigail with attitude: Richard Fisher to replace Bernanke as chairman?

By:
Abigail Hofman
Published on:

One of the participants at the dinner had also been present at the Federal Reserve’s annual symposium in August at Jackson Hole, Wyoming. Mole reported that Bernanke was now wildly unpopular with his central bank colleagues, especially those from the emerging markets. These central bankers perceive the Fed’s infatuation with indefinite QE as a recipe for disaster. A weaker dollar means stronger emerging market currencies, which in turn makes exports more expensive. A weaker dollar also increases the price of key commodities such as oil and grains, and this makes for a febrile political environment as the poor suffer more.I reflected...