Obama hints Bernanke on way out
WASHINGTON — President Obama suggested he might not renominate Ben Bernanke for a third term as chairman of the Federal Reserve, saying the central bank chief has stayed in the job longer than originally planned.
In a PBS interview that aired late Monday, Obama did not directly answer a question about whether he would renominate Bernanke, whose term as chairman ends in January.
Instead, Obama praised Bernanke and compared him to FBI Director Robert S. Mueller III, who is stepping down in September after 12 years on the job.
“I think Ben Bernanke's done an outstanding job,” Obama told PBS' Charlie Rose in the interview taped Sunday.
“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,” Obama said.
With the Fed playing an oversized role in the U.S. economy, investors and analysts are keenly interested in who will be heading the central bank next year and beyond.
Fed policymakers are grappling with when and how to start pulling back on their unprecedented stimulus efforts.
Bernanke guided the central bank through the Great Recession and financial crisis, and could be ready to step aside after more than seven grueling years in the job. But he also could decide he would like to continue leading the Fed through the process of unwinding its stimulus programs.
The Fed's Open Market Committee started a two-day meeting Tuesday, and Bernanke is set to hold his quarterly news conference Wednesday amid speculation that the central bank soon might start reducing its $85 billion in monthly bond purchases.
Bernanke, who has been Fed chairman since Feb. 1, 2006, is a Republican who was originally tapped for the job by President George W. Bush.
Bernanke hasn't indicated whether he would seek another term. His second four-year term ends on Jan. 31.
Asked at a congressional hearing last month whether he would accept another term if Obama offered it, Bernanke said, “I'm not prepared to answer that question now.”
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Cash stash bolsters U.S. Steel
- North Shore company ActivAided’s specialty back brace racks up sales
- Sales, profit fall at retailer American Eagle Outfitters
- Sprint cancels Framily, rolls out new data pricing plan
- Dick’s beats expectations, but golf sinks profits
- Pennsylvania drillers avoid using diesel, kerosene in wells, national report says
- Kennametal’s CEO to retire at yearend
- Designer sues Barnes & Noble over backpack profits
- Quarterly losses widen at Anchor Hocking’s parent amid fight with lenders
- Milk producer to ax disputed ingredient
- Government may be trying to force FedEx into settlement, experts say