Obama says Summers, Yellen, others in running for Fed chair
WASHINGTON (REUTERS) - United States (US) President Barack Obama said on Friday that Mr Lawrence Summers and Ms Janet Yellen were both highly qualified to be the next chair of the US Federal Reserve, but stressed that there was a "range of outstanding candidates" for this vital job.
"Frankly, I think both Larry Summers and Janet Yellen are highly qualified candidates. There are a couple of other candidates who are highly qualified as well. I'll make the decision in the fall," he told a press conference.
The term of current Fed chairman Ben Bernanke expires on Jan 31, 2014, and Mr Obama's remarks made quite clear that he will not serve a third term, even though Mr Bernanke has not said anything in public about his future plans. A Fed spokesman said that remained the case.
Mr Summers, a former top Obama economic adviser, has come to be viewed as the leading contender for the job, but the president insisted that he had still not made up his mind.