Brad DeLong: I think Obama should already have designated a successor to Bernanke.
If you look over the past five years, Obama has been singularly bad--has been at least two standard deviations below the average president--in making timely appointments. It's not just that the Republican minority in the Senate has blocked cloture or that the Senate has failed to vote or failed to confirm. It is also that Obama has failed to nominate.
In a good world we would have a successor-designate already in place. People would be relatively happy. Uncertainty would be minimized.
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