When he took over as Fed chair, Ben Bernanke said he hoped to provide clearer and more transparent guidance to financial markets than his predecessor, Alan Greenspan. We haven’t been impressed thus far. And now, this story:

Stock prices fell yesterday after CNBC, the financial news cable television network, reported that Federal Reserve Chairman Ben S. Bernanke said investors would be wrong to think the central bank has finished raising interest rates….

“Ben Bernanke … told me over the weekend the media and the markets got it wrong last week in speculating the Fed is done raising interest rates,” CNBC anchor Maria Bartiromo said at about 3:15 p.m. during her afternoon program. “I asked him whether the markets got it right after his congressional testimony, and he said, flatly, no.”

Stock prices dropped sharply after Bartiromo’s description of a conversation she said she held with the new Fed chairman at the White House Correspondents’ Association Dinner on Saturday night.

Sounds like someone was having some pretty important conversation at the WHCA dinner! Our friendly banter with Tucker Carlson doesn’t have the same market-moving power.

The moral of the story: Bernanke is just as delphic and easily misunderstood as Greenspan. This is why he needs the comely Maria Bartiromo, a.k.a. “the Money Honey,” to clarify his remarks.

Our modest proposal: All future Fed chairs should get their own personal cable news hotties, to translate their pronouncements for the markets. This will markedly improve public understanding of our nation’s fiscal policy.

(Now that she didn’t get the White House spokesperson job, what’s Torie Clarke up to? As we’ve said before, we like her; she’s a real firecracker.)

Investors Misunderstood Bernanke Testimony, CNBC Anchor Says [WP]
Fed Emphasizes Inflation Fight [Reuters]

Earlier: Bernanke Just as Delphic and Inscrutable as Greenspan

These things can change quickly, but the latest word on the street is that Tony Snow of Fox News is the most likely replacement for Scott McClellan as White House press secretary. Rumor has it that Snow has essentially been offered the job and is negotiating the fine points with the White House.

We’re a little disappointed that one previously mentioned candidate, Mark Pfeifle, is no longer in the running. He would have been a fun pick. A reader reminds us:

I know the infamous Mark Pfeifle — who was recently Wonk’d at The Cult concert at the 9:30 (and looking very out of place I might add). I dont know if Pfeifle is a serious contender but if he ascends to the White House, be assured that there is PLENTY to dish on him. For laughs, ask him about the time he and Wayne Newton spent together in a hotel in New Mexico… I can also give you his Capitol Hill address if you want to google map/stalk him.

Meanwhile, as the Reliable Source gals report, the gambling odds at BetUS.com favor a long-shot candidate:

The Scott McClellan replacement odds are posted, for those too wonky for those highbrow “American Idol” elimination wagers. Since Wednesday afternoon, BetUS.com has taken 186 bets with an average of $70 per bet (maximum is $100):

Deputy Press Secretary Dana Perino is tied with presidential counselor Dan Bartlett (6-5), followed by Fox News host Tony Snow (4-1), perpetual presidential adviser David Gergen (8-1) and former Pentagon spokeswoman Torie Clark [sic] and former Iraq occupation spokesman Dan Senor (both 12-1). Perino has the lead with almost 60 percent of all bets placed, Bartlett is the runner-up with almost 25 percent, and four delusional guys are hoping to make more than $20,000 with former Clinton buddy George Stephanopoulos (80-1).

Dana Perino hasn’t been mentioned in the latest reporting by major news organizations concerning McClellan’s replacement, so her frontrunner status is surprising. Perhaps our wild speculation played a role in her domination of the odds. But did the gamblers see our retraction?

Or maybe their bets reflect wishful thinking: they just want more TV time with Perino, who’s a definite hottie. And we can’t really blame them, since she’s the hottest of the bunch — although we like that Torie Clarke, too.

Reliable Source [WP]
BetUS.com

So who’s going to replace Scott McClellan? Truth be told, there’s not much new on that front. Executive summary: Any Republican who has ever been on TV is under consideration.

The Post reports that it’s between Tony Snow, the Fox News radio host; Dan Senor, former Iraq occupation spokesman (and hubby of Campbell Brown); Victoria Clarke, former Pentagon spokeshottie (and current CNN contributor); and Rob Nichols, former Treasury spokesman. The Times mentions Snow, Clarke, and Nichols (but notes, as we did yesterday, Clarke’s claim that she’s not interested).

Hotline helpfully summarizes some opinions from yesterday. Keith Olbermann is focused on Snow, Clarke, and Senor (but noted that all three raise conflicts issues with Fox, CNN, and NBC, respectively). John Roberts of CNN is betting on Snow or Nichols. George Stephanopoulos is “betting Senor will get the job”; Rachel Sklar agrees. Dana Milbank jokes, with respect to Tony Snow: “Is this just the beginning of a trend? Does Sean Hannity replace Rumsfeld at the Pentagon? Does Bill O’Reilly get the FBI?”

Oh, Dana…

Rove Gives Up Policy Post in Shake-Up [WP]
Rove Is Giving Up Daily Policy Post to Focus on Vote [NYT]
Hotline After Dark [Hotline On Call]
George Stephanopoulos: What’s the real news today? [The World Newser]
Senor Senor, I Presume [HuffPo]

We’d like to write about something else; really, we would. But the departure of Scott McClellan and the changing responsibilities of Karl Rove are all that people are talking about today.

Let’s see, what have we heard… Word on the street is that this wasn’t Scott’s decision. This makes sense, given that McClellan’s explanation of his departure at this morning’s press conference was vague and lame. His departure may be best explained by the White House’s desire to remove the Rummy resignation calls from the front pages of the nation’s newspapers.

We also hear that Josh Bolten told McClellan only yesterday that he would be leaving. Ouch. (Of course, reports that Bolten was shopping Scotty’s job around earlier this week were not a good sign; McClellan may have seen the writing on the wall.)

As for McClellan’s likely successor, Hotline is all over the story. The latest news: hottie-cum-firecracker Torie Clark, who regularly goes toe-to-toe with Paul Begala on CNN, does not want the job. Neither does Dan Bartlett. We can’t really blame them.

Here are three new names to add to the mix: Mark Corallo, Trent Duffy, and Mark Pfeifle. We reported earlier that Duffy previously expressed no interest in the job; but Bolten, to whom he is close, may be able to change his mind.

And that’s the latest unsubstantiated speculation and wild rumor about your next White House press secretary.

Last month, we predicted that Scott McClellan would be gone as White House press secretary by the summer. That prediction has now come to pass.

We also suggested that McClellan might be replaced by the exceedingly attractive Dana M. Perino, just promoted to serve as Deputy Assistant to the President and Deputy Press Secretary. Perino was being groomed for the job after Trent Duffy made clear that he wasn’t interested.

But that was before Josh Bolten officially took over as Chief of Staff. And we’re hearing that Yosh doesn’t think Dana Perino is ready for prime time just yet.

So who will fill Scott McClellan’s (often uncomfortable) shoes? Hotline On Call offers a helpful round-up of the candidates under consideration: Tony Snow, Rob Nichols, Dan Bartlett, Victoria Clark, Dan Senor, Brian Jones, and Ron Bojean. The Hotline crew seems to favor Bartlett — who, rumor has it, may be leaving his current post soon.

(Oh, and here’s a dark horse contender for the job.)

We’ve heard that Dan Senor was viewed by many as a great candidate, if not for his marriage to the luscious Campbell Brown. In addition to the obvious conflicts issue, the jokes about the press secretary being “in bed with the media” would never stop.

If you have anything to add — either about Scotty’s successor or why he left (and why now) — feel free to drop us a line. It will be interesting to see how this all shakes out.

Who Replaces Scott? [Hotline On Call]

Earlier: BREAKING: Scotty Is Outie
Campbell Brown and Dan Senor to Make Tons of Baby Insiders Together