Obama: Fed chair will prevent asset bubbles, focus on jobs
WASHINGTON Oct 2 (Reuters) - President Barack Obama said on Wednesday his selection of a nominee to head the Federal Reserve when Chairman Ben Bernanke's term ends in January will prevent asset bubbles from forming but will also try to lower a high jobless rate.
"They're going to be making sure that they keep an eye on inflation, that they're not encouraging some of the bubbles that we've seen in our economy that have resulted in busts," Obama said in an interview on CNBC.
"But they're also going to stay focused on the fact that our unemployment rate is still too high."
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