The campaign for who will be the next Fed chairman is now well under way. The front runners are Bernanke, Summers, and Yellen with an occasional nod to Blinder. In my opnion, we should immediately cross off the first two. The choice is really between Yellen and Blinder. What has Yellen done recently? The highly successful and popular “Cash for Clunkers” programs is a very pragmatic and smart solution to a real problem. This is Blinder’s baby and he should hire some lobbyists or something to help him market that fact. Everyone knows the “Cash for Clunkers” program but how many people know that Alan Blinder is the guy behind it and how many of those people know that Bernanke’s term at the Fed is ending and Blinder is a candidate to replace him?
Being smart is not good enough. Alan Blinder needs better marketing if he wants to be the next Fed chairman. I think he should be.