Obama: Bernanke Has 'Stayed A Lot Longer Than He Wanted'
In a Monday interview with Charlie Rose, President Barack Obama said Federal
Reserve Chairman Ben Bernanke has “already stayed a lot longer than he wanted
or he was supposed to.”
Rose asked Obama if he would consider reappointing Bernanke. Obama dodged
"He has been an outstanding partner, along with the White House, in
helping us recover much stronger than, for example, our European partners, from
what could have been an economic crisis of epic proportions," said
Bernanke has presided over the controversial
and unprecedented expansion of the Fed’s balance sheet, which now totals $3.41
trillion. Last year Bernanke announced the Fed would begin printing $85
billion a month in the form of buying up bonds and would hold interest rates to
near-zero until unemployment fell substantially.
Bernanke is expected not to seek a third term as Fed chairman. Most
believe he will be replaced by Fed Vice Chair Janet Yellen, a Democrat.