If it were a drawing on the Etch-a-Sketch, it would show a hooded Romney about to drop the guillotine's huge blade on the neck of the American economy. It seems that, while he's hardly clear and candid about his policies in other areas, he's made up his mind about one key part of our economic future in a Romney presidency. And the word on the Street is "OUCH!"
Mitt Romney’s promise to replace Federal Reserve Chairman Ben Bernanke if elected president is stirring anxiety among some financial analysts — who fear such a move could send the nation’s markets tumbling.
Romney, throughout his White House campaign, has argued he knows what needs to be done to get the economy running at full steam.
But the concern among market watchers is that if Romney dumps Bernanke, whose term expires at the beginning of 2014, he would remove the person who some believe is the weak economy's primary lifeline.
"There's a view that the economy cannot sustain itself, that it's really the Fed that is fueling economic growth, and that a post-Bernanke Fed is just not as favorable to growth," said Brian Gardner, senior vice president of Washington research at Keefe, Bruyette and Woods. ...The Hill
You wouldn't be wrong to believe that this presidential candidate is just asking for trouble. In fact, trouble in the markets are closely correlated with Romney's debate "win." Brian Gardner tracks recent developments in the markets.
Gardner pointed out that roughly a week after Romney boosted his candidacy with a strong showing in the first presidential debate, financial markets have not been exuberant.
Instead, the Dow Jones Industrial Average has lost over 300 points, or nearly 1.5 percent.
"We had a pretty clear sign last week that Romney's in a better position, and markets should have rallied on that. But they sold off instead," he said. ...The Hill