What was thought of as unthinkable several months ago looks more likely every day. It is becoming more likely that Ben Bernanke may not be re-appointed as Chairman of the Federal Reserve. The Wall Street journal reported that there is bi-partisan growing opposition to the reappointment of Ben Bernanke. Ten Republicans oppose his reappointment as well as several senior democrats. While I support Bernanke’s reappointment, if he is not reappointed I know the perfect person for the job.

My choice for the position would be Dr. Robert Shiller. I am not sure he is willing to accept the job but I can think of no one more qualified than him to hold it. Shiller undoubtedly is one of the most respected economists in the country. Shiller foresaw both the tech bubble and the housing bubble. Greenspan not only did not foresee the housing bubble, but has been criticized by many for causing. Many prominent economists claim that Greenspan caused the housing bubble for keeping interest rates too low for too long.