Corporate foreign exchange news

Bernanke's helmsmanship lauded by investors

Wednesday, 22 July 2009 09:04:25 GMT

US Federal Reserve chairman Ben Bernanke has found favour with investors in steering the country through its worst recession seen since the Great Depression.
In the inaugural Quarterly Bloomberg Global Poll, almost 75 per cent of investors questioned said that Mr Bernanke had earned another four-year term. His current tenure comes to an end in January.
Wallace Lin, an investment manager with Euro Asset Management in Hong Kong and respondent to the poll, enthused: "He's the best, maybe around the world."
"If he weren't renominated, it could have potentially very serious and severe repercussions on the stock market and the economy," added Jack Liebau, a poll participant and president of Pasadena, California-based Liebau Asset Management.
Other key findings from the poll reveal that investors view economic contraction as a greater risk than inflation, by a ratio of nearly two to one.
In his latest manoeuvre as head of the Fed, Bernanke has this week sought to bolster the central bank's independence after congressional lawmakers scrutinised its autonomy in managing currency swaps, emergency loans and a gamut of other fiscal instruments.ADNFCR-2522-ID-19275812-ADNFCR
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