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Markets, financial analysts, economists, pundits, and really, just about everybody, reacted favorably to President Bush's appointment of Ben Bernanke to succeed Alan Greenspan at the Fed. Liberals exulted that Bush had not picked a supply-side crazy, their evidence being that some supply-siders had criticized Bernanke. But supply-siders disagree among themselves about monetary policy all the time, and most of them were happy enough with the nomination. Bernanke is an inflation hawk who believes that the Fed should set clear ...