President Barack Obama might nominate Roger Ferguson, the chief executive officer of TIAA- CREF, to be the next Federal Reserve chairman instead of Lawrence Summers or Janet Yellen, said former Securities and Exchange Commission Chairman Arthur Levitt.

The “orchestrated campaign against Summers, I think, makes him politically impossible,” Levitt told Tom Keene and Scarlet Fu in an interview on Bloomberg Radio. “It’s quite possible that the president will go elsewhere,” and his choice “could well be Roger Ferguson for instance.”