FX Daily Squawk

It appears that Bernanke is going to be nominated by President Obama, for a second term.  I don't think that was a surprise to anyone.

Dennis Hughes, a former electrician and academic, was named the Chairman of the New York Fed's board for the rest of the year. He has been a member of the board since 2004 and has acted as interim Chairman, since the replacement of Stephan Friedman, who resigned in May because of controversy over ties to his former employer, Goldman Sachs.

Some on Wall Street believe it's not right that one of their own did not get elected, but according to public opinion, it seems to suit them just fine.