NYT: Bernanke Unlikely to Seek Third Term at Fed

Tuesday, 23 Oct 2012 07:04 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Federal Reserve Chairman Ben Bernanke has told close friends he probably will not stand for a third term at the central bank even if President Barack Obama wins the Nov. 6 election, the New York Times reported.

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.

The Fed's unconventional efforts to spur growth have been criticized by many 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 if he did not offer for re-nomination, 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 President George W. Bush's Council of Economic Advisers, is often mentioned as Romney's most likely nominee for the Fed job.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Millions of Catholic Pilgrims May Attend Double Canonization

Wednesday, 23 Apr 2014 12:13 PM

Pope Emeritus Benedict XVI will be attending the canonization of Popes John XXIII and John Paul II on Sunday, a senior C . . .

Politico Media Blogger: Sunday News Shows Are Dying

Wednesday, 23 Apr 2014 11:46 AM

Politico's media blogger is predicting the "death" of the Sunday morning public affairs shows that once set the agenda i . . .

Forbes: No Coincidence Canada's Middle Class Surpassing US

Wednesday, 23 Apr 2014 11:31 AM

It's no coincidence that the middle class in Canada is surpassing the United States as the world's most affluent, said S . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved