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Monday, December 19, 2005

Ben Bernanke, The Speculation Starts

How quickly the world moves on these days. This is more than yet another trite observation, I am sure there is an underlying logic to all this. This time it's the issue of by-by Alan, hello Ben. Only last week I was bemoaning the fact that the Fed FOMC seemed to have forgotten about the transition in taking the rate rise decision, and now, this morning the FT is here to remind us just how complicated last weeks decision now makes the immediate future.

Bernanke's first year at the Fed could prove his toughest

When Ben Bernanke takes over from Alan Greenspan as chairman of the US Federal Reserve in just over a month he will barely have got his feet under the desk before he faces the central banker's most difficult decision: when to call the end of an interest rate cycle. The timing of the changeover could not be worse, say Fed-watchers......