Meyer Says Yellen Has the Right of First Refusal at Fed

Laurence Meyer, a former Federal Reserve governor, said today that Fed Vice Chairman Janet Yellen has the “right of first refusal” to become the next leader of the central bank when Ben S. Bernanke’s term ends in January.

Meyer, speaking at a Bloomberg Link panel in Washington, said it’s “a bit surprising” that Bernanke couldn’t manage his calendar to allow him to take part in this year’s conference in Jackson Hole, Wyoming.

Adam Posen, a former member of the Bank of England’s rate- setting Monetary Policy Committee, when asked about a possible alternative if Yellen does not get the top spot, said it “has to be” former Treasury Secretary Timothy F. Geithner.

To contact the reporter on this story: Michelle Jamrisko in Washington at mjamrisko@bloomberg.net

To contact the editor responsible for this story: Kevin Costelloe at kcostelloe@bloomberg.net

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