Obama Said Not Ready to Decide on Fed Chief for Weeks

President Barack Obama won’t nominate a successor to Federal Reserve Chairman Ben S. Bernanke until at least September, an administration official said, as a group of Democratic senators urged him to choose Fed Vice Chairman Janet Yellen.

Obama hasn’t made a decision, according to the official, who asked not to be identified in discussing internal planning. Bernanke, whose second four-year term ends on Jan. 31, hasn’t indicated whether he would seek or accept a third term.