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Obama Has Short List to Succeed Federal Reserve Chairman Bernanke

Thursday, 27 Jun 2013 | 8:44 PM ET
President Barack Obama shakes hands with Chairman of the Federal Reserve Ben Bernanke.
Saul Loeb | AFP | Getty Images
President Barack Obama shakes hands with Chairman of the Federal Reserve Ben Bernanke.

The White House has assembled a short list of candidates to succeed Federal Reserve Bank chairman Ben Bernanke, a source familiar with the process said, and U.S. Treasury Secretary Jack Lew is running the search.

Bernanke is expected to leave when his second term ends on Jan. 31, after an eventful eight years in helping the U.S. economy recover from the worst recession since the Great Depression.

(Read More: Bernanke Is Doing the Right Thing: Trichet)

President Barack Obama hinted in a television interview this month that Bernanke would step down, comparing him to longtime FBI Director Robert Mueller, who agreed to stay two years longer in the job than he had planned, and is now to leave.

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Lew has assembled a short list with the help from several senior White House officials, the source said, speaking on the condition of anonymity.

(Read More: Market Seems to Have Lost Confidence in Bernanke)

There was no information on who is on the list, although Janet Yellen, Lawrence Summers and Timothy Geithner are considered to be likely leading choices.

"We decline to comment on speculation on any personnel matters until the President has made his decisions and is ready to announce them," said Amy Brundage, White House spokeswoman.

(Read More: Bernanke Taper Tantrum!)

"The President believes that Chairman Bernanke is a vital and excellent partner in promoting our economic recovery and he continues to serve admirably and with distinction during this important time for our country," she said.

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