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Last updated: July 27. 2013 5:49PM - 585 Views
Associated Press



FILE - In this Tuesday Jan. 25, 2005, file photo, a nameplate is affixed to the chair of US Federal Reserve Board Chairman Alan Greenspan in the main meeting room of the Board of Governors of the Federal Reserve System in Washington. The White House says Friday, July 26, 2013, that President Barack Obama is not expected to name a new chairman of the Federal Reserve until the fall, lowering expectations for an imminent announcement.  (AP Photo/Lawrence Jackson,File)
FILE - In this Tuesday Jan. 25, 2005, file photo, a nameplate is affixed to the chair of US Federal Reserve Board Chairman Alan Greenspan in the main meeting room of the Board of Governors of the Federal Reserve System in Washington. The White House says Friday, July 26, 2013, that President Barack Obama is not expected to name a new chairman of the Federal Reserve until the fall, lowering expectations for an imminent announcement. (AP Photo/Lawrence Jackson,File)
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(AP) President Barack Obama says his next Fed chairman should take ordinary people into account when setting monetary policy.


Obama tells The New York Times in an interview on the paper's website Saturday that he wants someone who won't just work abstractly to keep inflation in check and maintain stability in the markets. He says he wants the next Fed chairman to also promote policies that will help make ordinary people's lives better.


The president began a series of speeches this week promoting ideas for easing the burdens on the middle class.


Obama is considering replacements for Ben Bernanke, whose term as Fed chairman expires early next year.


Former Obama economic adviser Larry Summers and Janet Yellen, the Fed's current vice chair, are among the leading candidates for the job.


Associated Press
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