Obama Said Not Ready to Announce Fed Chairperson Pick This Week [View all]

[Purveyor]

By Julianna Goldman - Sep 23, 2013

President Barack Obama has no plans to name a nominee for Federal Reserve chairman this week, according to a person familiar with administration deliberations.

Fed Vice Chairman Janet Yellen remains the leading candidate to replace Ben S. Bernanke when his term expires on Jan. 31. She has been picking up support from Democratic senators and party leaders including former President Bill Clinton following a decision by former Treasury Secretary Lawrence Summers to withdraw from consideration.

White House officials made calls last week to influential senators to encourage them to voice support for a Yellen nomination to head off any attacks on her before Obama announces a decision.

The Fed nomination is subject to U.S. Senate confirmation.

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http://www.bloomberg.com/news/2013-09-23/obama-said-not-ready-to-announce-fed-chairman-pick-this-week.html