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Obama: Bernanke “Stayed a Lot Longer” Than Expected at Fed

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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Ben Bernanke Official Portrait
courtesy U.S. Federal Reserve
President Barack Obama indicated that Ben Bernanke would not remain at the Federal Reserve after the current term. This opens the possibility that frontrunner Janet Louise Yellen may takeover next year. She is the Fed’s number two.

It was not entirely clear the president was unhappy with Bernanke as he spoke about the Fed chief in an interview with Charlie Rose. The president did not say if he would keep Bernanke (unlikely). He may have simply had nice comments about the Bernanke as he prepares to dump him.

According to Reuters:

President Barack Obama hinted in an interview aired on Monday that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying current Chairman Ben Bernanke has stayed a lot longer than he had originally planned.

And:

“Well, I think Ben Bernanke’s done an outstanding job. Ben Bernanke’s a little bit like Bob Mueller, the head of the FBI — where he’s already stayed a lot longer than he wanted or he was supposed to”

Perhaps just a way to speak of Bernanke with false praise.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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