President Barack Obama indicated that Ben Bernanke would not remain at the Federal Reserve after the current term. This opens the possibility that frontrunner Janet Louise Yellen may takeover next year. She is the Fed's number two.
It was not entirely clear the president was unhappy with Bernanke as he spoke about the Fed chief in an interview with Charlie Rose. The president did not say if he would keep Bernanke (unlikely). He may have simply had nice comments about the Bernanke as he prepares to dump him.
According to Reuters:
President Barack Obama hinted in an interview aired on Monday that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying current Chairman Ben Bernanke has stayed a lot longer than he had originally planned.
"Well, I think Ben Bernanke's done an outstanding job. Ben Bernanke's a little bit like Bob Mueller, the head of the FBI - where he's already stayed a lot longer than he wanted or he was supposed to"
Perhaps just a way to speak of Bernanke with false praise.
Filed under: 24/7 Wall St. Wire, Politics