Former Treasury Secretary Timothy Geithner has given the odds for his nomination as Fed Chairman to replace Bernanke as the same as he gave the odds of a US debt downgrade in June of 2010: “no chance of that”.
MarketWatch reports that Geither has taken himself out of the running to replace Bernanke as Fed Chairman:
Outgoing Treasury Secretary Timothy Geithner on Friday took himself out of the race to replace Fed Chief Ben Bernanke, whose second term ends early next year.
In an interview with Politico, Geithner said there was “not a chance” he would ever serve as Fed chairman. “I have great respect for the institution, but that will be someone else’s privilege,” Geithner said.
In other news, the FOMC announced Thursday that Fed Chairmen will receive complimentary H&R Block tax services beginning in 2014.