Who Are the Dark-Horse Candidates to Replace Bernanke? | White & Case LLP International Law Firm, Global Law Practice
Who Are the Dark-Horse Candidates to Replace Bernanke?

Who Are the Dark-Horse Candidates to Replace Bernanke?

It is expected that Federal Reserve chairman Ben Bernanke will retire after the expiration of his term in January.

Popular candidates include Janet Yellen, Larry Summers, and Tim Geithner, but lesser-known names such as former Fed vice chairman Roger Ferguson and former Council of Economic Advisers' chairs Christina Romer and Austan Goolsbee lengthen the list.

He's got to pick a candidate that doesn’t scare the markets, said Ernie Patrikis, a partner at White & Case LLP. "This is going to be a very tough job. What Bernanke did was easy compared with what his successor will have to do. How do we get out of this huge portfolio?"

Tim Geithner has been mentioned as a possible successor to Bernanke. However, there has been speculation that Geithner's next move will be toward the private, not public sector.

"If I were Tim, I’d be tired," said Patrikis, who was also a former general counsel of the New York Fed. "I know what it feels like when you’ve been at the Fed for a long time and you have kids wanting to go to school."