January spells the end of Ben Bernanke’s term as chairman of the Federal Reserve. Should President Obama ask him to stay, or should he opt for one of two prominent candidates — Lawrence Summers, former Treasury secretary, or Janet Yellen, vice chairman of the Fed?
Chairman Bernanke likely wants out of this very tough job. Should the president twist his arm? My answer is no, notwithstanding my deep respect for Bernanke as an economist and public servant.