Kohn to leave Fed in June; gives Obama opening

[ProSense]

Kohn to leave Fed in June; gives Obama opening

By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – Federal Reserve Vice Chairman Donald Kohn's decision to step down at the end of June gives President Barack Obama a chance to put a bigger imprint on the central bank.

Kohn, the Fed's second-highest ranking official, has played a major role in shaping the Fed's strategy in fighting the worst financial and economic crises to hit the country since the Great Depression.

His departure will open up a third seat on the seven-member Federal Reserve board in Washington. Board members are picked by the president and must be confirmed by the Senate.

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Fed watchers suggest that Tarullo could be promoted to vice chairman, but he is said to want to concentrate on his role of being the Fed's point person on overhauling the nation's financial structure. Others mentioned include Obama's top economist Christina Romer, chair of the White House's Council of Economic Advisers, CEA member Austan Goolsbee and Janet Yellen, president of the Federal Reserve Bank of San Francisco. Or Obama could opt for Republican Greg Mankiw, economics professor at Harvard.

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Go for Romer.

[Rowdyboy]

1. There's a potential Republican nominee? Well there you go! Got to reach out-be all bipartisan!

Thats the fucking spirit.

I really don't think Obama gets who these people are and what they want to do to us.

[ProSense]

2. Nominee? This is the "Fed watchers" list.

The administration has made no announcement.

[Rowdyboy]

3. There's a policy position open for a bank regulator....The very idea that Obama would even CONSIDER

a Republican of any sort infuriates me.

[ProSense]

4. Who says he's considering a Republican? n/t

[warm regards]

5. Rearranging the deck chairs...

[progressoid]

6. How about Rahm or Summers or Geithner?

Just in case... :sarcasm: