Alan Greenspan became Federal Reserve Chairman under Ronald Reagan. Then he got the top job again under a different Republican, a Democrat and another Republican, appealing across party lines.
Just a year after taking office, the next president will have to make a critical decision about a previous appointee: Whether to keep or replace Fed Chairman Ben Bernanke.
Mr. Bernanke, a former top economic adviser to President George W. Bush, is widely respected as an academic economist who has worked hard to maintain a nonpartisan approach. But the sagging economy raises questions about whether he will get the nod for a second four-year term.
Imagine, his (professional) fate hangs upon the economy! Those of us who work in the private sector do not find this so shocking.