This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Obama: Next Fed Chief Should Consider Average Joes

WASHINGTON -- President Barack Obama says his next Fed chairman should take ordinary people into account when setting monetary policy.

Obama tells The New York Times in an interview on the paper's website Saturday that he wants someone who won't just work abstractly to keep inflation in check and maintain stability in the markets. He says he wants the next Fed chairman to also promote policies that will help make ordinary people's lives better.

"The idea is to promote those things in service of the lives of ordinary Americans getting better," The Times quoted Obama as saying. "I want a Fed chairman that can step back and look at that objectively and say, Let's make sure that we're growing the economy."

The president began a series of speeches this week promoting ideas for easing the burdens on the middle class.

Obama is considering replacements for Ben Bernanke, whose term as Fed chairman expires early next year. The president said he had reduced the field to "some extraordinary candidates," The Times said.

Former Obama economic adviser Larry Summers and Janet Yellen, the Fed's current vice chair, are among the leading candidates for the job.

A senior White House official told The Associated Press on Friday that Obama was not expected to announce a replacement for Bernanke before the fall. The official was not authorized to speak by name about internal White House deliberations over personnel decisions.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $112.92 2.94%
FB $89.73 2.91%
GOOG $637.61 1.43%
TSLA $242.99 8.07%
YHOO $33.69 3.60%

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs