Obama says several candidates for Fed chair: Rep. Israel

Reuters News
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Posted: Jul 31, 2013 12:26 PM
Obama says several candidates for Fed chair: Rep. Israel

WASHINGTON (Reuters) - President Barack Obama on Wednesday told U.S. House of Representatives Democrats that there were many candidates besides Lawrence Summers as his potential nominee for Federal Reserve Board chairman, Representative Steve Israel said.

Speaking to reporters following a closed-door meeting of House Democrats and Obama, Israel said Obama was "quite clear" that no decision had been made on a nominee to replace Fed Chairman Ben Bernanke next year.

"He did talk about Larry Summers' qualities, but he also said there were many other candidates with their own qualities. This meeting was not an endorsement or lack of endorsement of Larry Summers or anybody else," Israel said.

(Reporting by David Lawder; Editing by Vicki Allen)