Prominent people in Washington and on Wall Street say President Barack Obama is starting to focus on what may be the most important appointment of his second term: the next chairman of the Federal Reserve.
Ben Bernanke's term expires in January and he has told associates that the eight challenging years he will have served would be enough. Some people close to the president say his top personal choice to succeed Bernanke would be former Treasury Secretary Tim Geithner. They established a close bond over four years. If Not Geithner, Who Will Replace Bernanke? - Bloomberg
Yellen appears to be the "favorite"...
"If there were an oddsmaker's book, the favorite still would be the current vice chairman, Janet Yellen. She is respected by fellow economists and would likely go over well with markets
. One possible hurdle: she clashes frequently with Dan Tarullo, a Fed board member who was an Obama adviser in the 2008 campaign and still has ties to the White House."