Former Treasury Secretary Lawrence Summers announced on Sunday he was withdrawing his name from consideration. That has left as the leading contender Fed Vice Chair Janet Yellen. The administration said this week that President Barack Obama intends to nominate a successor this fall.
Bernanke rejected a suggestion that the Fed's decision not to begin trimming its bond purchases had confused financial markets, which had widely expected a move.
"I don't recall stating that we would do any particular thing at this meeting," Bernanke said. "We can't let market expectations dictate our actions."