After a bumpy couple of weeks, the Fed chairman has been confirmed by the Senate for a second four-year term by a healthy margin of 77–23. While some people are doubtless apoplectic about it (Jim Bunning), it feels like for the first time in a long time, common sense has prevailed. “We need the wisdom of patience,” said Senator Robert Menendez of New Jersey. “Let us not judge the man or the work prematurely.” [WSJ]
