Obama: Bernanke Has 'Stayed A Lot Longer Than He Wanted'

Obama: Bernanke Has 'Stayed A Lot Longer Than He Wanted'

In a Monday interview with Charlie Rose, President Barack Obama said FederalReserve Chairman Ben Bernanke has “already stayed a lot longer than he wantedor he was supposed to.”

Rose asked Obama if he would consider reappointing Bernanke. Obama dodgedthe question.

“He has been an outstanding partner, along with the White House, inhelping us recover much stronger than, for example, our European partners, fromwhat could have been an economic crisis of epic proportions,” saidObama.

Bernanke has presided over the controversialand unprecedented expansion of the Fed’s balance sheet, which now totals $3.41trillion. Last year Bernanke announced the Fed would begin printing $85billion a month in the form of buying up bonds and would hold interest rates tonear-zero until unemployment fell substantially.

Bernanke is expected not to seek a third term as Fed chairman. Mostbelieve he will be replaced by Fed Vice Chair Janet Yellen, a Democrat.