Federal Reserve Chairman Ben S. Bernanke said he’s “spoken to the president a bit” about his future and that he feels no personal responsibility to stay at the helm until the Fed winds down its unprecedented policies to stimulate the economy.
“I don’t think that I’m the only person in the world who can manage the exit,” Bernanke said when asked at a news conference in Washington if he’s discussed his plans with President Barack Obama. His term expires at the end of January.
then later....
Yesterday, Bernanke said, “I’ve spoken to the president a bit, but I really don’t have any, I don’t really have any information for you at this juncture.”
Bernanke, a former Princeton University professor, also said he didn’t feel personally responsible to lead the Fed when it unwinds its balance sheet
Can someone please explain what scenario (series of events) the Fed can 'exit' and 'unwind the balance sheet'.
There are a few gold bears around here that may want to have a stab at it. I know Skol told me one time the US would pay off its debt 'a little at a time'.
I am genuninely serious. If there is any possible (believebable) series of events that will allow Ben II to unwind and exit, I am all ears.
