Yellen appointment as Fed Chairman a done deal? Not so fast...

FXstreet.com (Chicago) – The maverick of economic opinion at this moment may be led by persons like Capital Economics’ Chief US Economist Paul Ashworth. After Larry Summers’s personal withdrawal from the pool of candidates to replace Ben Bernanke, the darling of many journalists and economists seems to be Janet Yennel.

Yennel, leading candidate for the position, is the current Vice Chairwoman of the Board of Governors of the Federal Reserve System. She has had a lot of experience in terms of public service and seems to know how the monetary system works. Nonetheless, Ashworth notes that “nominating Yellen now could make Obama look weak, kowtowing to the Democrats who have been openly campaigning for her”.

Bernanke steps down in January which gives President Obama time to interview and consider other candidates. Other potential candidates include ex-Fed Vice Chair Donal Kohn and US Secretary of the Treasury Tim Geithner.