Obama spells out Fed chief’s qualities

President Barack Obama has said his nominee for Federal Reserve chairman will be someone who embraces the central bank’s dual mandate to promote price stability and maximum employment, and he has narrowed his choice “to some extraordinarily qualified candidates”.

“I think you can anticipate that over the next several months, an announcement will be made,” Mr Obama said in an interview with the New York Times during the week, according to a transcript published yesterday on the newspaper’s website.

The president said he has yet to make a final decision and will announce a choice within “several months”.