Bush Picks Bernanke

President Bush picked Ben Bernanke as Greenspan's successor for Fed Chief. It was announced today that Bernanke, Harvard grad and top White House economic advisor, could step into Greenspan's shoes in February of 2006. Bernanke has stated that his first priority will be "to maintain continuity with the policies and policy strategies established during the Greenspan years." It was a conservative move for Bush, with Bernanke and Greenspan in agreement over most issues exception inflation targets. (Bernanke thinks the Fed should set targets; Greenspan does not.) As a result of this announcement, the markets soared, with high-rollers found in American Express and Merck. All in all, it was an eventful day ending well. Let's hope it stays up for the week! Dow: +169.78 NASDAQ: +33.62 S&P 500: +19.79