QE Tapering Be Damned; Bernanke's On His Way Out
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While markets have been busy decoding Ben Bernanke's QE tapering comments, the White House has other things on its mind related to the Fed Chairman - namely his successor.
According to late reports from the Wall Street Journal's Peter Nicholas and Jon Hilsenrath, the Obama administration has been putting together a short list of candidates to replace Mr. Bernanke, who's term expires on January 31, 2014.
News today follows a June 17th Charlie Rose interview, during which President Obama suggested that Mr. Bernanke "stayed a lot longer than he wanted or he was supposed to." The comments ignited the Bernanke replacement chatter. In fact, former Fed Governor Larry Meyer said President Obama "basically fired Ben Bernanke on the spot."
According to the Journal report, Obama could try to persuade Mr. Bernanke to stay another term, although many close to the Chairman believe he wants to step down when his term expires.
Janet Yellen is widely seen as the leading candidate for the job. Recently, Compass Points' Isaac Boltansk said the job is her's for the taking. This despite the fact that she is decidedly more dovish than Bernanke.
Lawrence Summers could be another top contender. Rounding out the list are: Alan Blinder, Roger Ferguson, Christina Romer, Timothy Geithner, Donald Kohn and Stanley Fischer.
According to late reports from the Wall Street Journal's Peter Nicholas and Jon Hilsenrath, the Obama administration has been putting together a short list of candidates to replace Mr. Bernanke, who's term expires on January 31, 2014.
News today follows a June 17th Charlie Rose interview, during which President Obama suggested that Mr. Bernanke "stayed a lot longer than he wanted or he was supposed to." The comments ignited the Bernanke replacement chatter. In fact, former Fed Governor Larry Meyer said President Obama "basically fired Ben Bernanke on the spot."
According to the Journal report, Obama could try to persuade Mr. Bernanke to stay another term, although many close to the Chairman believe he wants to step down when his term expires.
Janet Yellen is widely seen as the leading candidate for the job. Recently, Compass Points' Isaac Boltansk said the job is her's for the taking. This despite the fact that she is decidedly more dovish than Bernanke.
Lawrence Summers could be another top contender. Rounding out the list are: Alan Blinder, Roger Ferguson, Christina Romer, Timothy Geithner, Donald Kohn and Stanley Fischer.
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