Zachary Karabell of Reuters posed the question, "Does it really matter who the next chair of the Federal Reserve is?" The query came as President Obama looks for Chairman Ben Bernanke's successor. Citing a New York Times report, Karabell wrote that former Secretary of the Treasury Larry Summers, Federal Reserve Governor Janet Yellen and former Federal Reserve Vice Chairman Donald Kohn were already interviewed by Obama. Former Federal Reserve Governor and head of the Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF) Roger Ferguson is said to be a compromise candidate.

Karabell answered his question with both yes and no. It matters who runs the Federal Reserve because the agency "has assumed a central role in political life" in the US. On the other side of the spectrum, however, he wrote that "they represent different personalities, it's not clear that they - or any viable candidate - would represent different policies." One thing is certain for Karabell. Whoever gets to be the next Federal Reserve chairman "is likely to accept the basic parameters of the job and to support the dual mandate of the institution to maintain price stability and strive toward full employment."