There will probably be some debate about the process, and history will confirm the wisdom of the pick, but no one can dispute that this was yet another superior pick by the President.
Bernanke is a bit of an unknown. Some more politically inclined — and conservative — economics types don’t think he will be a strong supporter of tax cuts, but believe he will be a strong advocate, as Greenspan has been, of contained budgets and spending for government.
But you can’t dispute the background and experience Bernanke brings to the table. This should be another day of solid high-fives in the White House for a good pick that surprised folks a month earlier than expected. Instead, it inevitably brings to mind another pick that went awry.