Stocks Quiet Ahead of FOMC Statement
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Is Ben Bernanke Ready to Announce His Retirement?
June 18, 2013 5:02 PM EDTWhile markets are keenly focused on Wednesday's FOMC statement and comments from the Federal Reserve on a potential tapering of QE later in the year, a bigger story is developing - the fate of Ben Bernanke himself.
While markets largely understand that there is a very good chance that Mr. Bernanke is on his way out after his term expires on January 31, 2014, he hasn't officially announced that he is retiring, leaving markets guessing.
To that point; is the market ready to deal with the ramification of his departure? What about his replacement?
In an interview overnight with PBS's Charlie Rose, President Obama discussed the matter and put the Bernanke-replacement talk in overdrive.
"Well, I think Ben Bernanke's done an outstanding job," President Obama said. "Ben Bernanke's a little bit like Bob Mueller, the head of the FBI... More
