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June 27, 2013

White House Assembles List of Potential Bernanke Successors at Fed

The Obama administration has begun assembling a short list of candidates for the Federal Reserve chairmanship, in the expectation that Ben Bernanke won’t seek reappointment when his second term ends in January, according to people familiar with the matter.

Treasury Secretary Jacob Lew is putting together the list, working closely with a small number of senior White House officials.

President Barack Obama could try to persuade Mr. Bernanke to serve a third four-year term. But many of Mr. Bernanke’s friends and associates believe he wants to step down when his term expires, after nearly eight years overseeing the central bank’s response to the most serious economic downturn since the Great Depression.

Obama administration officials have spoken to the Senate about putting forward a nominee so that legislative staff can begin the vetting process and prepare for confirmation hearings, according to a senior Senate aide.”

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Read full Wall Street Journal article here

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