Go to read his recent paper: "Should Central Banks Respond to Movements in Asset Prices?" to get a better understanding of his thoughts
http://www.princeton.edu/~bernanke/asset.doc
Interesting comments from the Street:
"Today's nomination of Bernanke as Fed chairman is certainly positive for the equity markets and probably negative for the bond markets. His reputation in the investment community is that he's less hawkish than Greenspan on inflation and therefore less likely to raise rates aggressively in the face of inflation. That type of more liberal stance on interest rates scares the bond market, which fears inflation above everything else but cheers the stock market because it means more growth." -- Tim Ghriskey, chief investment officer at New York-based hedge fund firm Solaris Asset Management
By lessening the potential for an "aggressive tightening" of Fed policy, Bernanke's Fed would also lead to narrowing corporate bond yield spreads," Lonski said.
It also reduces the likelihood that "we are going to have a replay of 2000's aggressive tightening of monetary policy that was occasioned by a core CPI inflation that never really took off," he said.
Bernanke's chief first goal will be to accurately predict the time to cease rate hikes, said Alan Levenson, chief economist at T. Rowe Price. Rate hikes ultimately hinge on the economy's track, but Levenson doesn't see interest rate increases coming to a halt in January when Greenspan leaves his post.
"Winding up the rate hikes and getting it right in terms of timing will be a big challenge," Levenson said.
http://www.princeton.edu/~bernanke/asset.doc
Interesting comments from the Street:
"Today's nomination of Bernanke as Fed chairman is certainly positive for the equity markets and probably negative for the bond markets. His reputation in the investment community is that he's less hawkish than Greenspan on inflation and therefore less likely to raise rates aggressively in the face of inflation. That type of more liberal stance on interest rates scares the bond market, which fears inflation above everything else but cheers the stock market because it means more growth." -- Tim Ghriskey, chief investment officer at New York-based hedge fund firm Solaris Asset Management
By lessening the potential for an "aggressive tightening" of Fed policy, Bernanke's Fed would also lead to narrowing corporate bond yield spreads," Lonski said.
It also reduces the likelihood that "we are going to have a replay of 2000's aggressive tightening of monetary policy that was occasioned by a core CPI inflation that never really took off," he said.
Bernanke's chief first goal will be to accurately predict the time to cease rate hikes, said Alan Levenson, chief economist at T. Rowe Price. Rate hikes ultimately hinge on the economy's track, but Levenson doesn't see interest rate increases coming to a halt in January when Greenspan leaves his post.
"Winding up the rate hikes and getting it right in terms of timing will be a big challenge," Levenson said.
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