Bernanke is abandoning the Fed before the real shit hits the fan over the course he has charted. FT is reporting on a possible replacement:
More: http://www.ft.com/intl/cms/s/0/3b5311e6-c232-11e2-8992-00144feab7de.html#axzz2UaOe0o1J
When Wall Street predicts something will happen in Washington, it is often wise to bet on the opposite. Multiple polls show Janet Yellen, vice-chair of the US Federal Reserve, as the strong favourite to be named Ben Bernanke’s replacement as chair – an announcement that is likely by September.
Such certainty is puzzling: there is no evidence President Barack Obama sees Ms Yellen as a shoo-in. Nor does his likely shortlist – which includes two former Treasury secretaries, Larry Summers and Tim Geithner; and a former vice-chairman of the Fed, Donald Kohn – suggest Ms Yellen as the inescapable choice. Each is an impressive name, as are possible outsiders such as Stanley Fischer, governor of the Bank of Israel (who holds dual nationality). Mr Obama has a deep bench from which to choose.
It is my bet he will settle on Mr Summers. ...
More: http://www.ft.com/intl/cms/s/0/3b5311e6-c232-11e2-8992-00144feab7de.html#axzz2UaOe0o1J