President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has continued in his position “longer than he wanted,” one of the strongest signs the central bank president will make an impression when his current term ends next year.
Obama stated in an interview with Charlie Rose that was on air yesterday “Ben Bernanke’s done an outstanding job,” when questioned about recommending him for a new term to Senate approval. “He’s already stayed a lot longer than he wanted or he was supposed to.”
Obama related to Bernanke’s residence to that of leaving Federal Bureau of Investigation Director Robert Mueller, who continued on for two years after his term ending in 2011 and leaving his post in September. Bernanke’s another four-year post at the central bank ends Jan. 31.
Bernanke, same as Mueller, was at first nominated to the job by former President George W. Bush. Obama requested Bernanke to work for an additional term as chairman, which he started on Feb. 1, 2010. The 59-year-old former Princeton University professor and Great Depression scholar also served on Bush’s Council of Economic Advisers.
Michelle Smith, Fed spokeswoman, didn’t make a remark.
Treasuries were a bit changed immediately after the news, which approached on the evening before a two-day meeting of the Fed’s policy-setting Open Market Committee (FOMC). Incomes on standard 10-year notes were at 2.18% by 1:21 p.m. in Tokyo. Officials at the Fed in latest months have argued whether to scale back, or reduce, their purchases of Treasuries as the U.S. economy spreads out its repossession.