Donald Kohn is stepping down as the #2 on the Fed and there are currently two other vacancies on the board. Obama must nominate and the Senate gets to confirm or deny the appointments. Recently, we had an opportunity to rid the Fed of Bernanake, and lost the chance, to the detriment of all of us older people who have saved all our lives. Under Bernanke, and Greenspan before him, the Fed has continually suppressed interest rates, claiming that this would stimulate the economy. It did not. It made money so cheap that investment banks and speculators could borrow all they wanted. They didn't re-loan that money out so that business could borrow at favorable rates. Instead they used the money to gamble on "investments" with a high potential for large pay-backs, and often defrauded (and then bet against) their own customers by selling them worthless bundled loans and investing in derivatives that would pay off nicely when the customers lost their shirts. In the meantime, the cheap Fed money means that banks pay me and others like me almost nothing on our savings. Banks adjust their interest rates to follow Fed rates, and when the Fed keeps money cheap for Wall Street, private individuals with liquidity take it in the neck. Why should the bank pay me more for the use of my money than they pay the Fed? I'm getting very sick of the Fed's policy of welfare-for-Wall Street, while making the common people pay the bill. Obama should nominate some people who are less concerned with preventing inflation and more concerned with keeping the US treasury and US citizens solvent. So far his monetary policies seem in-line with that of the neo-cons. Neo-cons didn't elect him and won't vote for him next time, so if he wants to be a two-term President he would do well to remember that.