It's no longer clear if the Senate will confirm Ben Bernanke (Obama's pick) for a second term as the chairman of the Federal Reserve. Brown's victory in Massachusetts exposed public upset at policies that bailed out big banks but failed to decrease unemployment. Bernanke, in the minds of most Americans, is a symbol for those policies. During the crisis, Bernanke promoted unorthodox policies to avoid another depression. However, both before and now after the crisis, he has become conventional and complacent. So, by not confirming Bernanke, the Senate would be responding to the public's disdain of his policies and failure to create new ones to stabilize the economy. However, it could be argued that Bernanke's failure to create new policies is a response to the public's disdain for government regulation.
Equal paradoxically, even if Bernanke isn't the best choice, he's still the best choice. Any good alternative would be badgered to death by the Senate and any bad alternative could potentially destroy the economy. Bernanke may not be doing much now, but he knows whats going on. He is an established politician as well as a revered economist. He knows how to handle the commission and direct internal discussion, things that his colleagues could not handle.
The best course of action would be to confirm Bernanke, but let him know that we're not satisfied.
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