Obama Hints At Bernanke Departure
President Barack Obama has given the clearest signal yet that Chairman Ben Bernanke will likely leave the Federal Reserve when his term ends in January.
During an interview with PBS’ Charlie Rose that aired Monday, Obama said Bernanke has “already stayed a lot longer than he wanted or he was supposed to.” Obama also said Bernanke has done “an outstanding job.”
Obama’s comments came in response to a question that touched on whether he would reappoint Bernanke to a third four-year term.
Bernanke is widely expected to make this his last term. The speculation intensified when Bernanke said through a spokesman in April that he would skip the Fed’s annual August conference in Jackson Hole, Wyoming.
Janet Yellen, the Fed’s vice-chair, is considered a front-runner to succeed Bernanke.
(Metro Networks Inc)