- 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 November 6 election, the New York Times
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.
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
"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.
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.
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
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.
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.
(Reporting by Sakthi Prasad in Bangalore and William Schomberg in New York; Editing by Ted Kerr and W Simon)
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