Fed nominee to keep Ben S Bernanke’s smart policies: Barack Obama

WASHINGTON: President Barack Obama said the person he nominates to lead the Federal Reserve will maintain the “smart policies” of the current chairman Ben S Bernanke.

The president replied “no” when asked whether a delay in choosing a successor to Bernanke has hurt the Fed.

“Ben Bernanke’s done an outstanding job,” Obama said, according to a transcript released today by the radio network. “He’s maintained confidence.

And whoever I appoint I think will continue many of the smart policies that Ben Bernanke’s made.” Obama is likely to choose the Fed’s current vice-chairman, Janet Yellen, to succeed Bernanke, Senator Dick Durbin, the No 2 Democrat in the chamber, said September 26.