Republican presidential nominee Mitt Romney has already said he
would not re-nominate Bernanke if he wins the presidency. Bernanke’s term as
chairman ends in January 2014.
Bernanke, who was first appointed to run the U.S. central bank
by former president George W. Bush and was given a second term by Obama, has
declined to comment publicly on whether he would accept another four-year term.
“I am very focused on my work, I don’t have any decision or any
information to give you on my personal plans,” he told a news conference last
month after the Fed announced a new and open-ended round of bond buying to
support the U.S. economy.
The Fed’s unconventional efforts to spur growth have been
criticized by many Republicans and some economists who argue that they threaten
future inflation and abet profligate spending in Washington.
Treasury Secretary Timothy Geithner has already made it clear he
wants to leave by the end of the year.
Former Treasury Secretary Lawrence Summers would be at the top
of Obama’s list to replace Bernanke, although his reputation for not being a
team player could count against him, New York Times columnist Andrew Ross
Sorkin wrote.
Longer shots include Janet Yellen, the vice chairwoman at the
Fed, and economist Alan Krueger, a former assistant secretary of the Treasury
for economic policy, or even Geithner, Sorkin wrote in his “Dealbook” column.
Glenn Hubbard, who headed the Council of Economic Advisers under
George W. Bush, is often mentioned as Romney’s most likely nominee for the Fed
chairmanship or the top job at the Treasury Department.
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