Summers' appointment raises questions about Bernanke's future

12/1/2008 | CNBC

President-elect Barack Obama has not commented on the future of Federal Reserve Chairman Ben Bernanke, whose term expires in January 2010. The appointment of Lawrence Summers as head of the National Economic Council, however, has raised speculation that he may be in line to lead the Fed. "Larry [Summers] gets ready on all the projects, he gets briefed," said Scott Talbott of the Financial Services Roundtable. "The Bernanke piece works nicely. You have 14 months to keep him on."

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