Oct 23 U.S. 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.
Bernanke, 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 four-year term.
"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. economy.
The Fed and the White House declined to comment.
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
The central bank has promised to keep interest rates near
zero until at least mid-2015, but Bernanke told reporters in his
last press conference that there was an internal consensus on
the latest round of stimulus.
"There is a consensus that even as the personnel change and
so going forward, that this is the appropriate approach," he
said last month.
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, although his reputation
for not being a team player could count against him, New York
Times 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 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