Buffett Wants to Keep Bernanke Atop Fed

Janet who?

Asked about Janet Yellen, President Obama’s expected choice to lead the Federal Reserve, Warren Buffett said that he didn’t know her at all. In an interview with CNBC on Thursday, the Oracle of Omaha said that his choice to lead the Fed is Ben Bernanke, the current Fed chairman.

“I think if you’ve got .400 hitter in the lineup, you don’t take him out,” said Mr. Buffett. He acknowledge that President Obama is unlikely to ask the Fed chairman for another term, but told CNBC’s Becky Quick that “I don’t have a second choice.”

Also in the interview, Brian Moynihan, the chief of Bank of America, added that his bank was ready to work with all the candidates mentioned.

Looking back at Wall Street’s changes since the financial crisis, Mr. Buffett said that stocks are no longer “ridiculously cheap.”

“We don’t find bargains around but we don’t think things are way overvalued either,” he said. “We’re having a hard time finding things to buy.”