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21 Mar 2013
Bernanke’s comments portend exit
FXstreet.com (Barcelona) - Federal Reserve Chairman Ben S. Bernanke noted that he’s “spoken to the president a bit” with regards to his future and that he feels no personal responsibility to stay at the helm until the Fed winds down its unprecedented policies to stimulate the economy.
“I don’t think that I’m the only person in the world who can manage the exit,” Bernanke said when asked at a news conference in Washington if he’s discussed his plans with President Barack Obama. Indeed, the writing does appear to be on the wall as his term expires at the end of January 2014.
Bernanke’s comments yesterday melded with the views of some of Obama’s economic and political advisers who said Bernanke, after spending most of his seven years on the job battling a financial crisis and its aftermath, is simply exhausted and wants to return to private life. The current and former administration officials asked to not be identified to describe the private conversations.
Yesterday’s remarks were indeed a departure from Bernanke’s previous statements that he hasn’t discussed his plans with Obama or White House officials. Indeed as early as December 12, during his last news conference, Bernanke was quoted saying he hadn’t “had any conversations” with the president or anyone on his team about his potential departure.
“I don’t think that I’m the only person in the world who can manage the exit,” Bernanke said when asked at a news conference in Washington if he’s discussed his plans with President Barack Obama. Indeed, the writing does appear to be on the wall as his term expires at the end of January 2014.
Bernanke’s comments yesterday melded with the views of some of Obama’s economic and political advisers who said Bernanke, after spending most of his seven years on the job battling a financial crisis and its aftermath, is simply exhausted and wants to return to private life. The current and former administration officials asked to not be identified to describe the private conversations.
Yesterday’s remarks were indeed a departure from Bernanke’s previous statements that he hasn’t discussed his plans with Obama or White House officials. Indeed as early as December 12, during his last news conference, Bernanke was quoted saying he hadn’t “had any conversations” with the president or anyone on his team about his potential departure.