Major indices finish lower amid GE earnings disappointment >>> READ MORE

Obama Hints Bernanke’s Time as Fed Head Nears End

He has served as chairman since the Bush Administration


bernanke_630In an interview with Charlie Rose that aired on Monday, President Barack Obama signaled that he may soon appoint a new Federal Reserve chairman.

The term of current Fed Chairman Ben Bernanke expires next year. Obama praised Bernanke for “outstanding” performance during his time at the Fed, but note that the chairman has been on the job “longer than he wanted,” Bloomberg noted.

Bernanke became Fed Chairman under former President George W. Bush. He steered the nation’s financial policy through the mortgage crisis and massive federal bailouts that rescued struggling banks, insurers and General Motors (GM).

Obama requested that Bernanke remain on the job for a second term, which started in 2010. However, opposition to the bailouts resulted in his receiving a narrow 70-30 confirmation vote in the Senate.

The White House has declined any comment on possible successors for Bernanke.

The opinions contained in this column are solely those of the writer.

Want to share your own views on money and politics? Drop us a line at letters@investorplace.comand we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC