Next January, Chairman Ben Bernanke will end his long-held and effective stewardship of the Federal Reserve, having steered us away from a depression and to recovery. And however much the economy continues to struggle back through slow growth, he deserves our gratitude for doing what the Fed reasonably could do while the Congress could agree on nothing, and did nothing.
Now President Obama must choose a replacement worthy of the continuing challenge. The two most likely choices appear to be Larry Summers and Janet Yellen, both accomplished and well qualified. But, as Rana Foroohar, Time's economics commentator ("The Curious Capitalist") explains, each brings differing strengths and some questions with their candidacy.
The author argues for the very capable Ms. Yellen, so the article (linked below) is understandably a little short on the considerable service and list of accomplishments of the highly respected, but more controversial, Mr. Summers. As for me, I need to read and think about it all some more. You might, too. But this article is as good a starting place as any. And either choice will doubtless raise some controversy and opposition in one camp or another.
Link:
Why Yellen Is a Smarter Choice for Federal Reserve Chief Than Summers - TIME
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