America's untested management team

All top posts in the management team of the world's biggest economy are now headed by untested appointees with little high-level experience in government or proven policy predilections.

First Ben Bernanke, a respected academician with little market experience, replaced Alan Greenspan as chairman of the US Federal Reserve in February. So far, every time the new Fed chairman has made a public statement about his resolve on price stability, a technical euphemism for inflation and deflation, the market has shown its lack of confidence by a substantial price correction.

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