facebook
twitter
rss
account
search
search
 

Warren Buffett picks Bernanke for third term as Fed chairman

Sept. 19, 2013 at 7:33 PM   |   Comments

1 of 2
| License Photo
WASHINGTON, Sept. 19 (UPI) -- Billionaire investor Warren Buffett, the so-called Oracle of Omaha, said his pick to succeed U.S. Federal Reserve Chairman Ben Bernanke is -- Ben Bernanke.

Bernanke is widely expected to step down when his term expires in January 2014.

Former Treasury Secretary Larry Summers recently withdrew from consideration as Bernanke's successor, explaining he anticipated a contentious nomination process if he were chosen.

That left Fed Vice Chair Janet Yellen as the front-runner for the position.

The New York Times reported Thursday Buffett, in an interview, said he did not know Yellen and he would prefer Bernanke to stay in his job for a third term.

"I think if you've got a .400 hitter in the lineup, you don't take him out," Buffett said, although he also acknowledged President Obama was not likely to ask Bernanke to stay on the job.

"I don't have a second choice," he said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Twitter to remove pictures of deceased on family's request
2
Iran wants to develop mini-LNG plants
3
Deloitte: App downloads dwindle, 1 in 3 users disinterested
4
Iraq worried by terrorist ties to oil
5
AESA radar integrated into new F-16V
Trending News
Video
x
Feedback